Share allocations in newly-privatised Northern Ireland Electricity
have been scaled back after demand outstripped supply.
About 490,000 applications were made for the shares on offer to the
public and extra shares had to be clawed back from big institutional
investors.
Even after the claw-back was invoked, the sell-off was over-subscribed
about 2.7 times.
A total of 107 million shares have been allocated to the public --
including employees and pensioners -- representing two thirds of the
offer.
All NIE customers who registered in advance with the Share Information
Office will get some shares. Of these, 44% have been allocated all they
applied for. Some 93% of non-customers will also receive some shares.
Details of the basis of allocation will be published in the Financial
Times and the Northern Ireland papers on Monday, when stock market
dealings are expected to begin.
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