New MGS issue allotted

On Wednesday, the Treasury published the analysis of applications and allotment of the 4.8 per cent MGS 2016 (II) and the five per cent MGS 2021 (I). From a total of Lm65 million, Lm32 million were allotted mainly to financial companies by means of tender bids while Lm33 million were allotted to the public at par. 26.4 million applied for the 4.8 per cent MGS 2016 (II) by auction, while Lm61.7 million applied for the five per cent MGS 2021 (I). All applicants, amounting to 5,412, who applied for the five per cent MGS 2021 (I) at par were allotted the full amount, but only Lm6.7 million out of Lm28.4 million were allotted by means of auction. Upon taking into consideration both issues, the overall demand for this new initial public offer exceeded supply by Lm23.1 million.

In the secondary market, total Malta Government Stock turnover amounted to a nominal value of Lm181,000 being traded in 35 deals over nine different stocks. Trading over the week in corporate bonds was made up of a total value of Lm85,140.

Bank of Valletta shares opened the week at Lm3.309 on Monday and closed the week's trading at Lm3.34 yesterday. A total of 16,638 shares changed hands over the week, spread over 24 deals. Following yesterday's session, best bids of 892 shares at Lm3.34 and best offers of 1,500 shares at Lm3.37 remained outstanding.

Trading in HSBC shares opened the week at Lm6.60 on Monday and closed the week's trading at the same price. A total of 5,500 shares changed hands over the week, in six deals. As yesterday's session drew to a close, 100 shares at Lm6.25 and 780 shares at Lm6.60 remained outstanding.

Maltacom shares opened at Lm1.355 on Monday and closed the week at Lm1.35. A total of 73,899 shares changed hands over the week, spread over 22 deals. Following yesterday's session, 3,000 shares at Lm1.301 and 2,800 shares at Lm1.35 were the best-unsatisfied bids and offers respectively.

In a company announcement issued yesterday, the board of directors of Simonds Farsons Cisk plc stated that the 57th annual general meeting is to be held on June 28 to read and approve the minutes of the 56th annual general meeting held on June 26, 2003; to receive and consider the accounts for the year ended January 31, 2004 and the reports of the directors and auditors thereon; to approve the dividends as recommended by the directors; to appoint auditors and to elect the directors.

The other equities which traded during the week appear below, followed by the range in which trading took place; 2,471 Lombard Bank shares at Lm4.00; 1,323 Middlesea Insurance shares at Lm2.251; 7,808 Simonds Farsons Cisk shares between Lm1.01 and Lm1.00; 60,000 International Hotels Investment shares between €0.78 and €0.755 and 3,500 Plaza Centre shares at Lm0.697.

The Malta Stock Exchange share index decreased by 8.179 points or 0.32 per cent over the week and now stands at 2,557.32.