The offer of Lm4 million AX Investments plc bonds 2014-2016 and the over-allotment option of a further Lm1 million made by the company to the public has been fully subscribed, the company said.
The company closed the applications within a few hours of opening of the subscription lists.
In view of the demand, a number of applications would have to be scaled down.
AX Investments will be publishing the allocation policy by December 20.
Angelo Xuereb, chairman of the AX Group of Companies, said "the demand for the AX Investment bonds confirms the high regard and confidence that investors have in the AX Group".