Over-allottment option dropped on government stocks
Investors bought into ‘just’ €89 million of a government stock option, with the Treasury dropping its option for a €20 million over-allotment on its €100 million offer.
The government said this was a positive response both by members of the public and institutional investors to the latest government stock issues.
By closing date, the Treasury had received 1,408 applications having a total value exceeding €101 million against the authorised sum on issue of €100 million, subject to an over-allotment option for an additional amount of €20 million.
Out of these applications, the Treasury has accepted a total nominal value of €89,793,300.
The Treasury said that all subscriptions by members of the public, amounting to €22,943,300 in the two stocks will be accepted in full, while the offers by the institutional investors will be allotted in the order of the bid price offered.
The total allocations for this issuance of Government Stocks will be made as follows:
MGS 5% 2021 (I) FI – Euro 33,150,400 of which €11,450,400 were allotted to the retail sector at the issued price of €101.75 and €21,700,000 were allotted to Institutional Investors in the order of bid price offered; and,
MGS 3.6% 2013 (IV) FI - Euro 56,642,900 of which €11,492,900 were allotted to the retail sector at the issued price of €100.25 and €45,150,000 were allotted to Institutional Investors in the order of bid price offered.
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