AIB shares delisted from the NYSE, now what?

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uwadel

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AIB shares have been delisted from the NYSE stock exchange, I am wondering what happens to the shareholders, I definitely do not want to sell the shares as I would get a pittance for them and I would like to keep them, but I don't understand if AIB is withdrawing from the American market for ever.

It appears they are now trading at the Over-The-Counter Bulletin Board - OTCBB in the US, but it looks like a temporary measure, is AIB getting out of the US market for good? What happens to AIB US shares now? Will they keep trading at the OTCBB?

Thank you for your help on this.
 
When you talk about AIB US shares I assume that you are referring to ADRs, right? If so then it is possible to have them converted to shares and moved to the Irish stock exchange, however there will be fees involved. You'd need to talk to your broker to find out how the procedure works and the costs involved, but I expect it would be expensive.

On the other hand if you are intending to hold them for the long term, then you may be as well to just wait and see what happens. You own the shares, although indirectly, so even if AIB was to stop it's US list that would remain the case.

Jim.
 
Yes I was referring to ADRs, I have already contacted my broker (an online bank) and they gave me three choices:

1- Exchange the ADRs at market price (don't know how much).
2- Do nothing and on April 2012 Allied Irish Bank will liquidate my shares paying me something for them (don't know how much).
3- Keep the shares in another market

Right now the shares are worth €250 and they were bought for like €2500, if I have to keep the shares for 10 years, I can keep them for 10 years, €250 is not going to solve my life right now.

The broker I spoke to was quite clueless about how it works, the young woman over the phone had to ask for advice a few times and it was clear to me she was a messenger in between me and someone else, everytime I asked a question she did not know and had to go and ask, it did not inspire me too much trust.

I now understand that AIB shares will only trade in the Irish market, I was told about the fees if I keep the shares but she wasn't able to tell me how much or when the shares would be converted "it is still too early to tell".

I would appreciate if someone could clarify this for me:

1- Does it look to you like keeping the shares is the best plan of action given the circumstances?

2- When you say "high fees", are we talking around €50 or more like €400 (higher value than the shares)?

My broker/bank told me that they will not charge me any fees converting the shares, I will only be charged whatever the local authorities and the market fees.

Thank you
 
uwadel said:
My broker/bank told me that they will not charge me any fees converting the shares, I will only be charged whatever the local authorities and the market fees.
Click to expand...

Well if your broker has said that they will not charge fees for the paper work involved, I'd expect you'll be paying the normal kind of fees one does when executing a transition, but again only your broker can tell you the actual numbers.

Jim.
 
I've wondered about this too. I have kept my AIB stock since they delisted from NYSE and the value fluctuates by tiny amounts each day - mostly in an upward direction so far. So this must be the over-the-counter trading right?
Is there any chance that it will be re-listed?
If some good news comes for AIB along, can the OTC trading generate a good return?
I want to leave my stock where it is for as long as it takes to at least get back to what I paid for it.
 
I have spoken with my broker and AIB is not going to be re-listed in the NYSE any time soon, they will trade in the Irish stock exchange listed in Euros, how it works, is that your broker converts your shares into Irish shares but you have to notify them you want this done, if you do nothing AIB will buy your US shares in April 2012, I don't know for how much.

Forget about the OTC trading, that is only a temporary measure that will finish in April 2012, if you intend to keep your shares for years to come, like me, then you will need to look at the Irish stock exchange, AIB trading in the US is gone for good.
 
Good information, thanks! How do I go about doing that? I trade online using Ameritrade so I don't have a personal broker. Is it also possible that the OTC trading could drive the value up until April 2012, and then AIB will buy back at roughly what the value is then?

Today, the value has gone up 20% so far.
 
I can't tell you how to do that, I use an online bank and I just called them over the phone, I don't know anything about Ameritrade, if I were you I would call them and ask.

And as for the value going up next year, it is possible that in 4 months time the value is up just like it is possible that it is lower, an impossible to make prediction, but you should still be able to sell the shares before April, so if the value goes up you don't need to wait for AIB to buy your shares back at the end of the period, just sell them yourself.
 
With AIB shares so low right now, are they worth investing in for the long term ? Up to 10 years and beyond even ?
 
I read all the posts for " AIB shares delisted from the NYSE, now what?"
I have the same issue, I bought some AIB Shares, couple of months ago, They were divided by 10, and the symbol changed from AIB to AIBYY.PK.
I also called my Broker, They told me, I can sell the shares for money, he also did not know how much, OR, I can convert the AIBYY.PK Shares to AIBSF.PK Shares, not into Irish Shares. I asked him what is the AIBSF.PK, He explained to me in a hard way, until now I don't know if converting to AIBSF.PK is the right way for not losing the Shares. I read that the ADS, can be convert to Irish Shares as uwadel said. I checked in the Internet, what is the AIBSF.PK Shares, until now, I can't find anything that helps me take a decision.
Uwadel, if you now what is the AIBSF.PK, tell me please.
 
Never heard of AIBSF.PK sorry. As far as I know either you ask your broker to convert AIB ADS into Irish shares or you sell them at market value, and if you say nothing then ADS will be sold for you in April 2012, that is my understanding.
 
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