BRITISH GAS: UNDERWRITING ARRANGEMENTS FOR SHARE ISSUE

HL Deb 06 November 1986 vol 481 cc1246-7WA

Lord Mulley

asked Her Majesty's Government:

Whether, in view of the great over subscription and substantial premiums subsequent to the share issues of British Telecom and the Trustee Savings Bank, they will safeguard public expenditure by underwriting the British Gas issue themselves instead of paying commissions to City institutions.

Viscount Davidson

The underwriting arrangements planned for the sale of British Gas are described on pages 64 and 65 of thePathfinder Prospectus, a copy of which is in the Library of the House. They are designed to contribute to the overall success of the issue to the benefit of taxpayers and individual investors alike.