'Good response' to stock issue

Both small and institutional investors have reacted very positively to the Government Stock issue, the government said yesterday.

The Treasury received a total of 3,266 applications between March 14 and 17 with a total value exceeding Lm74.5 million, when the stock issues amounted to Lm40 million. Applications from small investors amounted to over Lm16 million.

The Treasury said all subscriptions by small investors will be entirely accepted while the residue will be allocated to the institutional investors in the order of the bid price offered.