DUBLIN (Reuters), The Irish government has extended the gradual selling down of its Bank of Ireland shares to Friday. After raising 249 million euro ($287.79million) in three months, it reduced its stake to 9.3% and lowered its share to 13.9%.

In June, the government declared that it would reduce its shareholding under a trading plan due to expire in January. Finance ministry stated on Friday it sold the shares at an average cost of 4.96 Euros.

The shares of Bank of Ireland closed Thursday at 5.15 euro, making it the largest country bank in terms of assets.

Following a property collapse, Ireland invested 64 billion euro, almost 40% of its annual output in its banks, a decade ago. Bank of Ireland is the only lender not owned by majority of Irish citizens.

This is the first sale of any Irish bank shares by the State since 2017.

If the government continues to increase its share sale pace, it may exit Bank of Ireland altogether next year. It would become the first bank to be fully privatized in Ireland.

Paschal Donohoe, Finance Minister said that “Given the success of this plan to date,” he believed it was in the taxpayer’s best interests to extend the plan for another period.

Citigroup (NYSE: ) continues to be an agent of the state for the execution of the share trading plan. This was stated by the finance department.

($1 = 0.8652 euros)