Government stocks oversubscribed by €100 million in under four hours

85 applications submitted offering more than €400 million for government stocks issued on Friday

The issue value was the biggest recorded in the past seven years
The issue value was the biggest recorded in the past seven years

Government stocks which were issued on Friday were oversubscribed by €100 million, with offers reaching over €400 million.

The stocks were oversubscribed in under four hours, the Finance Ministry said in a statement.

The issue value was the biggest recorded in the past seven years.

By the closing date at 12pm today, the Treasury received 85 bids with a total nominal value of €403.70 million against the authorised sum on issue of €200 million, which was subject to an over-allotment option for an additional sum up to a maximum of €100 million.

The ministry said that it would in the comings months be offering further opportunities for financial institutions and the public to participate in more stock issuances with a view towards helping the economy return to the state it was in before COVID-19.

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