IHI bonds allotment policy

The board of directors of International Hotel Investments yesterday announced the allotment policy to be applied on the applications for its Malta liri and euro bonds issue which opened for public subscription on February 3.

As a result of the over-subscription for both bond issues, which also exceeded the over-allotment limit set in the offering memorandum, the board decided to accept all applications to a value of Lm2,000 on the Malta liri bond and €5,000 on the euro bond and to scale down all other applications.

IHI will be retaining Lm6 million out of the Malta liri bond issue and €8.1 million out of the euro bond issue, a total aggregate value in both bond issues equivalent to Lm9.375 million.

In consequence, the company will be refunding through the registrar of the issues, Bank of Valletta, Lm2.150 million and €0.900 million.

All applicants for the bond issues will be receiving a communication on their entitlement, and refund cheques where applicable.

IHI received a total of 3,170 applications.