Btp Italia: 72% of the «private» share to small savers

The sixteenth Btp Italia, with its almost € 23 billion in funding, marked an absolute record both as regards the issue as a whole and as regards the tranche dedicated to small investors, both in terms of contracts and equivalent value. . Dominating, emerges from a press release from the Treasury, was domestic demand, which affected almost all of the 14 billion subscribed by retail and 51.9% of the institutional part, for a total value of 18.3 billion. About 60% of the 384 thousand contracts closed by private individuals with an amount of less than 20,000 euros, while if contracts up to 50,000 euros are considered, approximately 88% of the total relating to this phase is reached.

From the information offered by the placement banks, it can be inferred that the participation of individual investors, equal to 72%, was prevalent compared to 28% of private banking. With reference to the institutional placement, 59% was assigned to banks, 23.7% to asset managers, 6.3% to central banks and official institutions, 7.2% to hedge funds. The remaining 3.8% stake went to insurance and non-financial institutions (1%). Domestic investors subscribed to 51.9% while the remaining 48.1% was underwritten by foreign investors, most of which (42.6%) in Europe, with the United Kingdom (27.9%), France (5 , 7%) and Germany (3.7%) in the lead. The remaining 5.5 percent of the Second Phase issue was placed with Middle Eastern (4.7%) and US (0.8%) investors.