MIDI plc and International Hotel Investments plc have obtained approval for the issuance of two new secured bonds. Applications for preferred applicants have been mailed by the issuers, whereas applications for the general public will be made available from next Monday.
MIDI will be issuing a new secured bond of €50 million, which will be offered at par and subject to a minimum subscription of €2,000. The new bond will mature in 2026 and holds a coupon of four per cent. The company will grant preference of up to €2 million to shareholders and €40,832,900 to holders of the 7% MIDI plc 2016-2018 denominated in euro and sterling.
Similarly, IHI plc will be issuing a new secured bond of €55 million, maturing in 2026 with a coupon of four per cent. The bond will be guaranteed by IHI Magyarország Zrt – the owner and operator of the Corinthia Hotel Budapest. The company is granting IHI shareholders who were on the company’s register at June 30, 2016, preference of up to €30 million to subscribe to the new bond, which will be issued at par.
This week, the Malta Stock Exchange index extended its positive stance having appreciated by a further 2.21 per cent, to close at 4,578.915 points. The index registered a 2.04 per cent gain in June and a 2.94 per cent appreciation for the first six months of 2016. Turnover for the week amounted to €694,601 and was spread across 14 equities of which ten rose in value, three declined and one closed unchanged.
Simonds Farsons Cisk plc shares were the only non-movers for the week having traded flat at €6.28. The equity was active on two trades of 4,540 shares. The company announced that during the Annual General Meeting held on Tuesday all of the ordinary resolutions were approved, including the payment of a final net dividend of €0.0733 per ordinary share.
Positivity prevailed in the banking sector with Lombard Bank Malta plc shares leading the way, having appreciated by €0.119 or 5.9 per cent as 11 trades of 51,882 shares were struck, closing at €2.14.
Bank of Valletta plc shares oscillated between a weekly low of €2.202 and a high of €2.25, at which it closed the week. The banking equity was active on 38 transactions of 84,943 shares.
FIMBank plc shares sustained their recent ongoing winning streak having strengthened by a further 1.1 per cent as 53,212 shares changed ownership over four deals, closing at $0.93. The trade finance bank recorded an impressive 45 per cent rally for the first six months of the year.
HSBC Bank Malta plc shares edged 0.6 per cent higher across five trades of 16,317 shares, to close at €1.61.
Mapfre Middlesea plc shares were the best performers for the week having rallied by 9.6 per cent as 11,200 shares were struck, closing €0.21 higher at €2.40.
Tigne Mall plc shares headed the list of fallers with a 0.9 per cent decline on a sole trade of a scant 100 shares executed at €1.05.
GO plc shares slipped by 0.7 per cent as four deals of 5,714 shares were struck, closing at €2.86.
Malta Properties Company plc shares fully erased the previous week’s losses having advanced by 4.5 per cent over five trades of 4,550 shares, to close at €0.53.
IHI shares strengthened by 4.6 per cent over 11 transactions of 7,401 shares, closing at €0.70 – thus registering a 12.7 per cent gain in June.
Malta International Airport plc shares soared by €0.15 or 3.7 per cent across 12 deals of 17,757 shares, to close at its weekly high of €4.25.
RS2 Software plc shares closed the week 2.9 per cent higher after adjusting for the five for three share split to be allotted to shareholders on the shareholder register as at July 4, 2016. The I.T. equity witnessed a total of 27 trades of 53,793 shares and closed at €2.16.
Medserv plc shares increased by a minimal 0.1 per cent across six deals of 11,285 shares, closing at €1.792.
MaltaPost plc shares closed 0.5 per cent lower as two transactions of 2,894 shares were executed, to close at €1.99.
Global Capital plc announced that an extraordinary general meeting will be held on July 22, while its annual general meeting will be held on July 29. The equity was not active this week.
In the corporate bond market 21 issues were active of which 12 gained ground, seven fell in value and two closed unchanged as turnover totalled €489,000. The 3.5% Bank of Valletta plc € Notes 2030 S1 T1 was the most active issue having witnessed a turnover of 70,000 nominal, closing one per cent higher at €99.
In the sovereign debt market turnover amounted to €9.3 million spread over 22 issues of which 18 advanced and four declined. The 4.45% MGS 2032 (II) was the best performer having advanced by 1.8 per cent, to close at €139.48.
This article, compiled by Jesmond Mizzi Financial Advisors Limited, does not intend to give investment advice and the contents therein should not be construed as such.
The company is licensed to conduct investment services by the MFSA and is a Member of the Malta Stock Exchange and a member of the Atlas Group.
The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article.
For further information contact Jesmond Mizzi Financial Advisors Limited at 67, Level 3, South Street, Valletta, or on Tel: 2122 4410, or e-mail info@jesmondmizzi.com .