The Department of Finance seeks PR help for AIB IPO

It is expected to happen in 2017...

The Department of Finance is seeking a public relations adviser to design a strategy for AIB's IPO.

Some 25% of the bank is expected to be floated in 2017.

The Irish Times reports that the contract is for 18 months and that it is worth €200,000.

"As with all costs and expenses in connection with the sale of our shares in the bank, AIB will reimburse the Department in relation to any costs associated with these services. Furthermore AIB will not be appointing additional PR advisors for this transaction so there will not be any duplication of costs," the Department  told Newstalk.com.

The PR role covers "privatisation communications and media strategy development and planning," ahead of the IPO.

This will include the, "development of key messaging themes with pro-active and reactive engagement with media personnel and influencers" and assisting with public briefing and press releases.

The deadline for submissions from interested parties is January 27th.

Last week, the Department of Finance announced that it's appointed Bank of America Merrill Lynch, Davy and Deutsche Bank as 'Global Coordinators' to assist with the IPO.

Commenting on that announcement, Finance Minister Michael Noonan said:

"There remains no fixed timetable for any sale at this time as it will depend on market conditions amongst other things. These appointments will ensure that the State has the option to sell some of the State's shareholding in AIB during 2017 or indeed early 2018 as provided for in the Programme for a Partnership Government."

Following the financial crisis that State owns 99% of AIB.