Mizzi Organisation Finance plc said that since its recent bond issue was heavily over-subscribed, it exercised the over-allotment option increasing the bond issue to €30 million.

The company received a total of €55,975,000 and as a result of the heavy over-subscription.

Mizzi Organisation Finance received 1,321 applications from existing bondholders of the 6.7 per cent bonds 2009-2012 for a value of €20,065,300 representing an acceptance rate of more than 84.3 per cent.

Applications from Mizzi applicants totalled €1,592,400 and would also be met in full.

Mizzi Organisation Finance received €31,132,200 in applications at the pre-placement stage and since the amount available for allocations at this stage was €6,342,300, the company satisfied only 20.4 per cent of subscriptions.

During the public offering, the company received a further 2,933 applications with a value of €27,975,000.

Since only €2,000,000 were available for the public, the company decided to allot a minimum of €600 to each applicant together with a further allotment of around 1.04 per cent rounded to the nearest €100 nominal.

Interest starts to accrue today while refunds would be made by Monday. The €30 million Mizzi Organisation Finance plc 2016-19 bonds will shortly be admitted to the Official List of the Malta Stock Exchange.

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