UPDATE 1-Irish lender permanent tsb launches stock market return

April 14, 2015 7:20 AM

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DUBLIN, April 14 (Reuters) - Permanent tsb (PTSB) launched a 400 million euro ($423 million) public share offering on Tuesday, the first by an Irish lender since the financial crisis, in a move that will cut the government's stake to at least 75 percent.

The loss-making bank will also issue a further 125 million euros in risky additional tier one bonds to help it fill a capital shortfall identified last year when it was the only Irish bank to fail European stress tests.

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