§ Mr. Wigley
To ask the Secretary of State for the Environment if he will publish for each water authority in England the estimated percentage held by(a) individual shareholders and (b) financial institutions as on the first day of trading in the new companies.
§ Mr. Howard
[holding answer 19 December 1989]: The allocations to applicants in each of the nine English water companies were announced on 11 December. The offer of shares to the general public in each company was oversubscribed to an extent that the clawback arrangements set out in the prospectus were triggered. As a result, 39.25 per cent. of the shares in each company were allocated to institutions and 46.875 per cent. of the shares in each company were allocated to applicants in the retail public offer.