Malta Government Stocks - Allotment Policy

Wednesday, March 4th, 2015

On 3 March, the Treasury published its allotment policy with respect to the €180 million Malta Government Stock issue. The offering was closed early on Monday 23 February due to heavy oversubscription. This was confirmed via a press release on 26 February which revealed that the Treasury received around 11,700 application forms representing a total aggregate nominal value exceeding €443.2 million.

The following allotment policy is being adopted across the two issues:

2% MGS 2020 (V) FI

  • 44 applications having a nominal value of €6,011,300 will be accepted in full.

3.0% MGS 2040 (I)

  • Applications up to €10,000 (nom) will be accepted in full;
  • Applications in excess of €10,000 (nom) will receive the first €10,000 (nom) per application, plus an additional 12% of the remaining balance, rounded to the nearest €100.

The Treasury did not disclose the date of any refunds to applicants and the listing dates of the two MGS as yet. Furthermore, the Treasury explained that in view of the administrative process linked to the publication of the final results, the actual number of applications accepted and the actual nominal amount allocated will be confirmed by a press release in due course.

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