The British Gas stock issue was oversubscribed.
British Gas, the state gas supply monopoly being sold to private investors in the world’s largest stock market flotation, said its $8-billion share offer was substantially oversubscribed. The merchant bank N. M. Rothschild, which is handling the sale, said it had received 3 million applications. A bank spokesman said the proportion of shares allocated to the public will be raised to 64% from the 40% that was originally planned.
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