HC Deb 12 December 1985 vol 88 cc769-70W
Mrs. Currie

asked the Chancellor of the Exchequer if he will make a further statement about the sale of the Government's remaining ordinary shares in Cable and Wireless.

Mr. Moore

The sale has been successfully completed. About 220,000 applications were received from the general public, including employees and pensioners of Cable and Wireless plc, for a total of over 100 million shares. The public offer was therefore over two times subscribed.

In accordance with the Government's policy of encouraging wider share ownership, all applications for 200 shares or fewer are being met in full. Three quarters of the shares available to the public have been allocated to people who applied for 1,000 shares or fewer.

Details of allocations are as follows:

Number of shares applied for Number of shares allocated
50 In full
100 In full
150 In full
200 In full
250–350 200
400–550 220
600 240
650 260
700 280
750–1,000 300
1,100 and above 30 per cent. of shares applied for