Good response to stock issue

The public has responded favourably to the latest government stock issue of May 17, which amounted to Lm65 million, the government said yesterday. The Treasury received 5,506 applications totalling over Lm88 million. The stocks issued were: Lm40m five...

The public has responded favourably to the latest government stock issue of May 17, which amounted to Lm65 million, the government said yesterday. The Treasury received 5,506 applications totalling over Lm88 million.

The stocks issued were: Lm40m five per cent MGS 2021 (I) and Lm25m 4.8 per cent MGS 2016 (II) (fungible) at Lm101 per Lm100 stock.

The two stocks were issued soon after the redemption of Lm18.7m MGS 6.7 per cent 2004 which matured on April 23.

While stockholding of the small investor in the maturing stock was of Lm7.2 million, subscription by the small investor to the new stocks exceeded Lm33 million.

The accountant general has announced that all applications from the public have been accepted. The remaining applications have been allotted in order of the bid price offered.

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