Oireachtas Joint and Select Committees
Thursday, 14 December 2017
Public Accounts Committee
2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation
9:00 am
Mr. Des Carville:
The 10 cent was a deeply discounted rights issue. This is perfectly normal in capital market terms. Any existing shareholder or investor already in the bank can invest at that price and then, to the extent that investors do not take up the pro rataentitlement, one then goes to external investors.