4 - 10 April 2001

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Government to satisfy 44% of stock demand

The Treasury Department has reported that the issue of government stocks worth Lm30 million with a return of 6.65 per cent in 2016 in March, has reflected a heavy concurrence by the general public, representing an average of Lm5,000 per application.

As a result, only 44 per cent of applications for the stock issue will be satisfied.

The number, and amount, of auction offers reflected what could be considered as a normal trend. The average price of offers received amounted to Lm100.9484 per Lm100 nominal with a weighted average yield of 6.5517 per cent - based on an estimated redemption date of 28 September 2016.

However, given the amount taken up by the general public, only 31 offers from the 70 bids that were received, just 44 of the total, could be accepted.

The average rate of offers accepted amounted to Lm 101.8678 per Lm100 nominal with a weighted average yield of 6.4575 per cent.

The Treasury Department has notified the general public and the auction bidders whose offers were accepted, and who have already been notified, will be receiving their respective Registration Advice from the Malta Stock Exchange in due course.

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