26 OCTOBER 1934, Page 48

CENTRAL .ELECTRICITY ISSUE.

Quite the outstanding feature of recent capital flotations has been the great success which attended the issue of Central Electricity Board Stock. The verylarge amount of £6,000,000 was offered of- 31 per cent. Stock at the price of 98, thus giving a bare flat yield of 3i 'per cent. and only a fraction over that rate allowing for redemption. Nevertheless, the issue was probably covered ten times and large applicants only received about 10 to 12 per cent. of the amount applied for, though the very small subscribers of 1100 received in full. The scrip has since been dealt in at 15/16 premium.

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