Published:
Thursday, April 27, 2017
The T&T Stock Exchange announced last night that the First Citizens additional public offering of 48,495,665 ordinary shares at $32 a share attracted subscriptions totalling $1.025 billion.
This means that the share offering, which was expected to generate $1.5 billion to support the 2017 budget, was 31.67 per cent under-subscribed. Individual investors subscribed for 5,548,539 shares, spending $177.5 million in the process.
Each category of investors received 100 per cent of their application.
The transfer of the shares to the successful investors is “proposed” for today, subject to the approval of the T&T Stock Exchange and the Central Depositary, according to the statement which was issued at 9.14 pm.
