§ 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: 770W
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