7 – 13 February 2001

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Globe's 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.

The Business Times, Network House, Vjal ir-Rihan San Gwann SGN 07
Tel: (356) 382741-3, 382745-6 | Fax: (356) 385075 | e-mail: editorial@networkpublications.com.mt