As part of the Nama transfer deal the government will have to inject capital into the banks in the form of equity.
Lenihan has indicated that he may not have to "nationalise" AIB & BOI See
So my question is:
What percentage of equity can the government hold and still say the banks "aren't nationalised" ?
ISE rules usually require 25% + of shares to be publicly available for trading, though they'll make exceptions.
I've fuzzy recollections of company law for publicly listed companies but I think it said that once a single shareholder goes above 80% they take on additional obligations and they can force the buyout of the remaining 20% or the remaining 20% can demand to be bought out. So I think the threshold looks like 75-80%.
Can anyone aid in answering this question, as I'll freely admit my knowledge of equity listing is rusty !