Positive response to Lm10m stock issue

The government said investors reacted very positively to the Lm10 million stock issue applications for which were received by the Treasury between July 24 and 27.

The Treasury said it received 1,589 applications for a total value exceeding Lm43 million.

The Treasury will be increasing the amount on issue and adopting the over allotment option mentioned in the relative prospectus as follows:

The small investors' share in the new stock amounted to over Lm9 million.

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