Good response to government stock issues

The government said that both public and institutional investors have reacted positively to its Stock Issues - June 2007.

For the three stocks with closing date June 22 the Treasury received 2,559 applications having a total value exceeding Lm50 million against the authorised sum on issue of Lm40 million.

By exercising the "over allotment option" mentioned in the respective prospecti, the Treasury will be increasing the amount on issue from Lm40 million to Lm47,851,200.

The Treasury said that all subscriptions by members of the public, amounting to Lm12,405,900, will be accepted in full while the offers by the institutional investors will be allotted in the order of the bid price offered.