A pre-placement exercise will take place today in an initial public offering of a maximum of 45 per cent (5,040,000 shares) of the government's remaining shares in Maltapost.

In all, 11,200,000 ordinary shares, whose nominal value per share is €0.25 (11c) are being made available for subscription at a price of €0.50 (21c) per share.

The remaining shares and any shares not acquired during the pre-placement will be made available during a general public offering which opens tomorrow and closes on Friday, or earlier in the case of over-subscription.

Applications are for a minimum of 2,000 shares and in multiples of 100 shares thereafter.

Maltapost has submitted an application for its total share capital amounting to 28,000,000 shares to be admitted to the Official List of the Malta Stock Exchange.

Application forms and the prospectus are available at all local commercial banks and authorised financial intermediaries.

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