GO plc - BMIT Allocation Policy

Thursday, February 7th, 2019

On 7 February 2019, GO plc announced the allocation policy in respect of the IPO of BMIT Technologies plc (“BMIT”).

As indicated in the Prospectus dated 7 January 2019, a total of 79,261,701 shares of BMIT out of the 99,761,701 shares on offer for sale were already allotted to a number of financial intermediaries. As a result, the number of shares available for subscription by ‘preferred applicants’ (namely GO shareholders as at close of trading on 28 December 2018 and GO Group employees) and the general public amounted to 20,500,000 shares.

Subscriptions received by GO from ‘preferred applicants’ and the general public amounted to 51,295,600 shares (equivalent to €25.1 million), thus resulting in an over-subscription of 30,795,600 shares (or €15.1 million). In this respect, GO is applying the following the allocation policy:

  • ‘Preferred applicants’ will be allocated the first 10,000 shares in full and 13.688% on the remaining amount rounded down to the nearest 100 shares. As a result, 55.59% of the total number of applications received from ‘preferred applicants’ will be receiving full allocation of the amount of shares applied for.
  • Applications received from the general public will be allocated the first 5,000 shares in full and 6.11% on the remaining amount rounded down to the nearest 100 shares. As a result, 28.92% of the total number of applications received from the general public will be receiving full allocation of the amount of shares applied for.

GO explained that any refunds will be made by Thursday 14 February 2019. The shares of BMIT are expected to be admitted to listing on the Official List of the Malta Stock Exchange on Friday 15 February 2019 and trading is expected to commence as from Monday 18 February 2019.

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