The Ministry of Economy and Finance announces the placement details of the second issuance of the BTP Valore, the family of government bonds targeted exclusively to individual investors.
The amount issued has been equal to 17,190.004 million Euros for an overall number of contracts equal to 641,881, with an average size of 26,781 Euros. Below, the trend in demand during the placement period from the 2nd to the 6th of October.
| Number of contracts | Total turnover demanded (€) | Total turnover allotted (€) | |
|---|---|---|---|
| 1° day | 162,579 | 4,768,820,000 | 4,768,820,000 |
| 2° day | 168,051 | 4,543,411,000 | 4,543,411,000 |
| 3° day | 137,907 | 3,583,758,000 | 3,583,758,000 |
| 4° day | 108,560 | 2,728,896,000 | 2,728,896,000 |
| 5° day | 64,784 | 1,565,119,000 | 1,565,119,000 |
During the placement period, out of 641,881 contracts concluded on the MOT (the Borsa Italiana’s screen-based market for securities and government bonds) around 67 per cent of them had a size of less than 20,000 Euros, while considering contracts up to 50,000 Euros, they were around 92 per cent of the total.
From the data received from Dealers, Co-Dealers and other intermediaries, it can be estimated that the participation of retail investors was significantly higher compared to the private banking, with a share of 79 per cent, the highest ever recorded in and issuance dedicated to individual investors. Within the share allotted to investors, requests received through the banking networks and postal offices (both at the bank desk and through remote offers) were estimated to be around 63 per cent, while orders carried out via home banking were about 37 per cent.
Looking at the geographical distribution of the orders received, it is estimated that domestic investors bought almost entirely the amount issued.
