44.6% of applications at public offer stage to be met in full by Tumas Investments

Following good demand for the €20 million 6.2% Bond 2017-20 which opened and closed on 25 June 2010, the Board of Directors of Tumas Investments plc has exercised the over-allotment option by increasing the bond issue by another €5 million to €25 million

6 July 2010, 12:00am
by Charlot Zahra

1 min read

According to company announcement placed on the Malta Stock Exchange (MSE) yesterday, 4,436 applications were received for a total of €42.96 million.

1,109 applications by preferred applicants as holders of the maturing 6.7% Bonds 2010-2012 for a value of €12.9 million would be met in full.

The company said this represented an acceptance rate of around 80% after taking into consideration the receipt of top-up amounts.

New applications from the general public totalled 3,327 for a value of €30,062,400. Due to the overwhelming demand, the directors of the company decided that applications for and up to €4,000 were allotted in full.

Each application for amounts of more than €4,000 also received a further allotment of 5.312% rounded to the nearest €100. The company said this meant that 44.60% of total applications from the general public would be met in full.

When one took into account the applications received from preferred applicants, the number of applications which were being allotted in full totalled 58% of all applicants, the company added.

Interest on the bonds would commence on Saturday 10 July 2010, while allotment letters and refunds of un-allocated monies will be sent by the previous day.

The company announced that the Bonds were expected to be listed on the official list of the Malta Stock Exchange, at the latest on Thursday 15 July 2010 and trading to commence the following day on Friday 16 July 2010.