MIDI has released details of the allotment policy to be used for applications for its Euro and Pound Sterling bonds. The bonds opened for public subscription one week ago and were oversubscribed within 90 minutes, with more than 2,600 applications. Almost all of these – 99 per cent – were for up to and including €100,000 or £87,000. These will be met in full.

In the case of individual applications of more than e100,000 or £87,000, the first €100,000 or £87,000 will be met in full, together with 66.59 per cent of the remainder. All figures will be rounded to the nearest e100/£100.

Applicants will be informed by mail and the refund of unallocated money was effected last Friday by direct credit to the bank account indicated on the application form. Interest on the bonds began as from Tuesday, 20 January.