Btp Più, average cut at 33 thousand euros. Retail at 69%

MILAN – A "prevalent" participation of retail investors, with a share equal to 69%, while that of private banking was equal to 31%, a "high level" compared to previous issues of Btp Valore. This is the 'cross-section' of the 451,831 contracts with which the over 14.9 billion of the new Btp Più placed last week were subscribed. Orders arrived for "almost all" from Italian investors and with an average cut of 32,989 euros. About 61.6% - explains the Mef in a note - was for an amount less than 20,000 euros, while if we consider the contracts up to 50,000 euros, we reach about 89.2% of the total.

Within the quota subscribed by retail investors, the Mef estimates that approximately 53% forwarded the order through the branches of the banking networks and post offices (both physically going to the branch and remotely), while the remaining 47% through home banking, a quota this last "significant in comparison with all the previous issues dedicated to individual investors".