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local
news
Government to satisfy 44% of stock
demand
The Treasury Department has reported that the issue of government
stocks, worth Lm30 million with a return , in March has reflected
a heavy concurrence by the general public, representing an average
of Lm 5,000 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 percent 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.
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