520,823 iBond applications set new record

Allocation will be issued on 24 June.

According to a release, subscription and allocation results were released today for the third inflation-linked iBond, which will be issued on June 24.

A total of 520,823 valid applications were received for more than $39.6 billion in the principal amount of the bond, setting new records in the local retail bond market.

All valid applications will be allocated one unit of bond first. Those applying for more than one unit, which totalled 493,321, will enter into a ballot for allocation of one additional unit.

Listing and dealing of iBond on the Stock Exchange will become effective on June 25. The final issue amount is $10 billion.

The placing banks and securities clearing company will provide notifications on individual allocation results, applicable subscription and application refund amounts in accordance with the schedule set out in the issue circular.