AIB has reduced its number of shareholders by about 47 per cent through an offer to buy out thousands of legacy shareholders with small holdings after their stakes were severely diluted by its crisis-era bailouts. The bank said on Wednesday that the number of investor accounts on its shareholder register have been reduced by 6,743 after shareholders participated in an offer by the bank to buy out holders of 50 or fewer AIB shares. The investors had previously owned less than 0.001 per cent of the bank. AIB said in March that of the 14,360 shareholders on its share register at the time, some 11,453 held 50 or fewer shares. Eligible shareholders who did not want to participate in the so-called odd-lot offer, priced at a 5 per cent premium to AIB’s prevailing share price late last month, had to fille in an opt-out form to retain their shares. Over 40 per cent of those eligible chose to hold on to their interest in the bank.The bank paid a total of €1.44 million – or €10.06 per share – to the participating investors. The bank also covered the broker costs. AIB had previously reduced its number of shareholders by 89 per cent in 2024 through an odd-lot offer aimed at holders of 20 or fewer shares. PTSB carried out a similar programme the same year. Bank of Ireland received authorisation from shareholders at its annual general meeting (agm) two weeks ago to conduct an odd-lot offer over the next 18 months. The number of shares in issue across the three banks ballooned – and pre-existing investors were severely diluted – during the financial crisis as they gave new stock to the Government under taxpayer bailouts. The odd-lot offers have been partly a response to calls from shareholders for such a mechanism, as they – or, in many cases, the estates of deceased legacy investors – could not otherwise realise any remaining value for their shares on the market on account of broker dealing costs.