pre-allocated IPO shares taken up
Globe Financial Management plc has announced that all of the three million
shares made available for pre-allocation, in the initial public offering
(IPO) of the company's shares, have been taken up. These shares were
offered at price of 42 cents, totalling Lm1.26 million.
Company chairman Christopher Pace explained that the demands of many
applicants for these shares could not be satisfied.
Applications for the remainder of the seven million shares being offered
to the general public open on Thursday, 8 February, and close on 15
February. If demand exceeds the number of shares available, applications
will close earlier.
Globe Financial Management plc is the parent company for Globe Fund
Advisers Ltd (100 per cent ownership) and Globe Retirement planning
Ltd (51 per cent ownership), and also has a 49 per cent interest in
Mediterranean Fund Management Ltd).
Bank of Valletta plc is the manager, registrar and underwriter for this
share offer while the sponsoring stockbroker is Franco Xuereb of BOVSL,
Bank of Valletta's new stockbroking company.