Ivor Callely
Question:95 Mr. Callely asked the Minister for Public Enterprise the early response to the Telecom Éireann share offer; and if she will make a statement on the matter. [13076/99]
Written Answers. - Employee Shareholding Schemes.
The response to the registration phase of the Telecom Éireann initial public offering as at 17 May 1999 is 1,032,600. When the registration phase ends we will know exactly how many members of the public have expressed an interest in the process. After that, when application forms are sent out, people can decide whether and to what extent to which they will commit to the purchase of shares based on the information available to them including the prospectus and the mini-prospectus.
Ivor Callely
Question:97 Mr. Callely asked the Minister for Public Enterprise if applicants for Telecom Éireann shares will be allocated their requested number of shares; if the mechanism on allocation of shares has been worked out; and if she will make a statement on the matter. [13078/99]
At this stage it is not possible to anticipate the level of response to the application phase of the Telecom Éireann initial public offering. However, if the offering is over subscribed, then applicants who have already registered their interest during the registration phase will receive priority in allocation. The mechanism on allocation of shares will be worked out, and agreed, by the Government closer to the time, but I have made it clear that there will be a significant tranche of shares for retail investors and that I intend to structure the retail offer with the small investor in mind.