How did state bonds for small investors so quickly end up on the WSE?

Financial institutions have picked-up five-year State Treasury bonds that were designated for individual investors and which were not supposed to be bought by institutions, a Ministry insider told Gazeta Wyborcza. The zl. 500 million worth of securities went on sale from September until they were all sold. The sale of the first tranche through brokers has come to an end. Officially the reason given is that the bonds have all been sold, unofficially, it is rumored that the sale was suspended. According to unofficial sources, between zl. 150 million to zl. 200 million of securities were sold within 20 days. Possibly, some people bought securities just to resell them to financial institutions on the Warsaw Stock Exchange (WSE). This scenario may be confirmed by the fact that the price of these securities on the WSE was 1% higher than in the brokers that had sold them a few days earlier. Polish securities currently bear one of the highest interest rates in Europe. (Gazeta Wyborcza, p. 26) M.T. In Brief: Gdynia Shipyard guarantee; Polmos ZG; Nordea joins top 15