Malta launches €300 million Government Stock issue, with option to raise up to €500 million

The Maltese Government is set to issue €300 million in fixed-rate Malta Government Stocks (MGS) in October, with the amount potentially increasing to €500 million in the event of oversubscription.

The Accountant General announced on Friday that the €300 million will be raised through any one or a combination of two new stocks: the 4.30 per cent Malta Government Stock 2037 (II) and the 4.50 per cent Malta Government Stock 2041 (III).

The Government has retained the option to increase the issue by up to a further €200 million should demand exceed the initial amount on offer.

Members of the public will be able to invest up to €499,900 per person in either or each of the two stocks.

The retail offer will open at 8.30am on Monday 5th October and is scheduled to close at 2.30pm on Wednesday 7th October, although the Accountant General may close applications earlier.

The price at which each of the two stocks will be offered to retail investors will be announced on Thursday 1st October through a Department of Information press release.

Wholesale investors will participate through a sealed-bid auction opening at 8.30am on Friday 9th October and closing at noon on the same day, unless closed earlier at the Accountant General's discretion.

The allotment results for applications submitted through the auction will be determined and announced two hours after its closing time.

Retail application forms will be available through members of the Malta Stock Exchange and other authorised investment service providers. They will also be available for download from the Treasury's website from Friday 2nd October.