A further 514,000 MIDI plc shares changed hands today following the activity of 742,200 shares yesterday.

The increased trading activity followed last Friday’s announcement on the company’s intention to sell its entire shareholding of Tigne Mall Ltd (TML) which owns and operates ‘The Point’ shopping centre as well as 253 underlying car spaces.

The transaction, which will generate €20.9 million in net proceeds for MIDI, is subject to a number of conditions including shareholder approval at an extraordinary general meeting on March 22. The share price remained unchanged today at the 29c level.

Meanwhile, lower volumes were registered in the equities of Malta International Airport plc and GO plc which retained their previous closing prices. MIA held on to the €1.79 level across 14,900 shares and the telecoms quad-play operator ended this morning’s session unchanged at the €1.40 level on volumes of 5,400 shares.

Likewise, MaltaPost plc retained is 2013 high of €1.05 on a single deal of 5,000 shares.

Meanwhile, the equities of the two large banks drifted lower. Bank of Valletta plc’s share price eased 0.8 per cent lower to the €2.27,2 level across 13 trades totalling 21,154 shares and HSBC Bank Malta plc shares shed 0.4 per cent to the €2.74 level on volumes of 13,544 shares.

HSBC is due to report its results next March 4.

The only other active equity was International Hotel Investments plc which inched minimally higher to close at the 75c1 level on a single trade of 5,850 shares.

On the bond market, the Rizzo Farrugia MGS Index jumped 0.14 per cent higher to a new one month high of 1,010.207 points as the benchmark 10-year German Bund yields slumped back to the 1.47 per cent level (close to its 2013 lows) on the back of the electoral deadlock in Italy.

Subscriptions from the public for the new Malta Government Stock issues are open until tomorrow.

The Treasury is offering a total of €200 million in any combination of the two new stocks as follows: (i) three per cent MGS 2019 (III) at €100.50 giving a yield to maturity of 2.915 per cent and (ii) 4.5 per cent MGS 2028 (II) at par giving a yield to maturity of 4.5 per cent.

Copy of the prospectus and application forms may be found here. 

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