Strong response to government stock issues

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

By closing dates (5 p.m. on August 6 and noon on August 8), the Treasury had received 1,245 applications having a total value exceeding €168 million against the authorised sum on issue of €100 million (subject to an over-allotment option for an additional amount of €50 million).

Out of these applications/bids, the Treasury has accepted a total nominal value of €127,345,900 to be allotted among the two stocks on issue as follows: MGS 5.00 per cent 2021(I) issued at 97.2 - €21,683,000 and MGS 5.10 per cent 2014 (III) issued at 99.45 - €105,662,900.

The Treasury announced that all subscriptions by members of the public, amounting to €14,545,900 will be accepted in full while the offers by the institutional investors will be allotted in the order of the bid price offered.