Aer Lingus sets price for public share offering

Aer Lingus has priced its initial public share offering at €2.20 (£1.73), giving it a market value of 1.13bn euros when share trading begins on the Dublin and London stock exchanges on October 2.

The Irish government, which owns 85.1% of the airline, is selling more than 50% of its shares to investors.

The share pricing is at the lower end of market forecasts and is expected to raise about €501.8m.

By Bev Fearis