Government stocks oversubscribed by €100 million in under four hours

Government stocks which were issued on Friday were oversubscribed by €100 million, with offers reaching over €400 million.

The stocks were oversubscribed in under four hours, the Finance Ministry said in a statement.

The issue value was the biggest recorded in the past seven years.

By the closing date at 12pm today, the Treasury received 85 bids with a total nominal value of €403.70 million against the authorised sum on issue of €200 million, which was subject to an over-allotment option for an additional sum up to a maximum of €100 million.

The ministry said that it would in the comings months be offering further opportunities for financial institutions and the public to participate in more stock issuances with a view towards helping the economy return to the state it was in before COVID-19.