Financial services group IFG said yesterday that it had received an unsolicited expression of interest in relation to a possible purchase of its International Corporate Trustee Services division.

“This announcement is made in light of recent share price movements,” the Dublin-listed company said in a statement. “It should be carefully noted that the approach is recent, at an initial stage and is subject to significant conditionality and caveats.”

The approach may or may not advance and there is no assurance of a formal offer, the company said. The company’s stock rose 5.5 per cent yesterday.

Last September, IFG announced it had terminated takeover talks with private-equity firm Bregal Capital over a buyout.