MIDI announces bonds allotment policy

MIDI has released details of the allotment policy to be used for applications for its Euro and Pound Sterling bonds. The bonds opened for public subscription a week ago and were oversubscribed within 90 minutes. There were more than 2,600 applications.

MIDI has released details of the allotment policy to be used for applications for its Euro and Pound Sterling bonds.

The bonds opened for public subscription a week ago and were oversubscribed within 90 minutes. There were more than 2,600 applications. Almost all – 99 per cent – were for up to and including €100,000 or £87,000. These will be met in full.

In the case of individual applications of more than €100,000 or £87,000, the first €100,000 or £87,000 will be met in full, together with 66.59 per cent of the remainder. All figures will be rounded to the nearest €100/£100.

MIDI said that applicants will be informed by mail and refunds of unallocated monies will be paid this Friday by direct credit to the bank account indicated on the application form. Interest on the bonds will begin as from today.

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