Malta Government Stocks - Results of Malta Government Stock Issues

The Treasury announced that it allotted a total of €106.9 million nominal for last week’s Malta Government Stock issues. The Treasury received 2,089 applications and accepted a total of €61.2 million for the 5.1% MGS 2014 (III) and €45.7 million in the 5% MGS 2021 (I).

Subscriptions from the General Public at the fixed prices established by the Treasury totaled €26.9 million. The balance of €80 million was allotted to institutional investors from the total demand of €88 million. In the 5.1% MGS 2014 (III), a total of €53 million were allotted to institutions at prices between a high of 101.75% and a low of 100.14%. Meanwhile in the longer-term paper, €27 million were subscribed by institutional investors. The highest successful bid was at 98.99% with the lowest accepted bid of 96.80%. In both cases, the lowest successful bid was at a discount to the fixed price for the General Public offering.