Government stock issues oversubscribed

There was a positive response by members of the public and by institutional investors to the latest government stock issues, the government said yesterday.

By the closing date which was noon, last Friday, the treasury had received 2,089 applications with a total value exceeding €109 million against the authorised sum on issue of €100 million which was subject to an over-allotment option for an additional €50 million.

The allotment of the two stocks on issue will be as follows:MGS 5 per cent 2021(I) issued at 98.99 - €45,656,800 and MGS 5.10 per cent 2014 (III) issued at 101.25 - € 61,195,100.

All subscriptions by members of the public, amounting to €26,851,900 will be accepted in full while the offers by the institutional investors will be allotted in the order of the bid price offered, the treasury said.