Following last week's positive financial statements publication and the announcement of the bonus share issue, Bank of Valletta shares witnessed an increase of 78c9 on the previous week's closing price of Lm5.95. Trading opened at Lm6.336 on Monday and peaked at Lm6.779 on Tuesday before edging down to close the week's trading at Lm6.739 yesterday. Total turnover for the week amounted to 280,716 shares representing 74 per cent of the total value transacted in equities during the week. These shares changed hands in 458 deals. Following the close of business yesterday, best unsatisfied bids for 78 shares at Lm6.70 stood against best unsatisfied offers of 660 shares at Lm6.739.
HSBC shares traded between Lm6.40 and Lm6.75 during the week, with the former being the opening price on Monday, while the latter was the closing level yesterday. This marked an increase of 38c on the previous week's closing price of Lm6.37. In total, 48,843 shares changed hands during the week, spread over 86 deals. After yesterday's session, best bids for 925 shares at Lm6.70 stood against best offers of 155 shares at Lm6.75.
In a company announcement issued on Tuesday, the board of directors of HSBC Bank Malta announced that it has decided to commence the process for the merger by acquisition of its subsidiary HSBC Home Loans (Malta) Ltd with the bank. The merger will streamline administration of the mortgage business and reduce solo company financial and regulatory reporting. There will be no negative impact on pre-tax group profitability.
Maltacom shares also experienced an impressive week after increasing by 16c (10.063 per cent) during the week to close yesterday's session at Lm1.75 after opening Monday's trading at Lm1.59. In the interim, the price of the equity reached a weekly low of Lm1.581. A total of 143,173 shares changed hands over the week, spread over 124 deals. Best bids for 81 shares at Lm1.72 and best offers of 5,925 shares at Lm1.75 remained unsatisfied as yesterday's session drew to a close.
In a press release issued by the privatisation unit, the government announced that the total number of applications received for shares in Malta International Airport was 4,090, for 16,473,113 shares. The number of applications received under the General Offering Category "A", and from MIA employees and Malta Government Privatisation Bond holders was 4,042 for 10,569,413 shares. These applications will be accepted in full. The number of applications received under the General Offering Category "B" was 48 for 5,903,700 shares.
Twenty-one applications for 2,960,587 shares, being the highest bids received at a weighted average price of Lm1.621 per share will be accepted. Bank of Valletta, as registrar of the public offering, will be mailing the allocation advices on Monday.
Concurrent with the press release regarding the sale of government shares in Malta International Airport, the company also thanked the thousands of private investors who have expressed their trust in its success record.
Meanwhile, an increase of 21c was registered over the week in MIA share price, as trading in the equity opened at Lm1.40 on Monday and closed at Lm1.61 yesterday. In the interim, the equity reached a weekly high of Lm1.65 yesterday. A total of 10,668 shares changed hands during the week, spread over 22 deals. Following the close of business yesterday, best bids for 6,600 shares at Lm1.60 stood against best offers of 232 shares at Lm1.65.
The other equities which traded during the week appear below, followed by the range in which trading took place: 2,733 Lombard Bank shares between Lm7.05 and Lm7.10; 2,794 Middlesea Insurance shares between Lm3.30 and Lm3.36; 7,460 Simonds Farsons Cisk between Lm0.755 and Lm0.78; 80,010 International Hotel Investments shares between €0.775 and €0.83; 26,674 Plaza Centres shares between Lm0.609 and Lm0.621; 13,300 FIMBank shares between $1.849 and $1.85; 1,500 Global Financial Services shares at Lm1.289; 2,000 San Tumas Shareholdings plc shares at Lm0.931 and 18,124 Datatrak shares between Lm0.445 and Lm0.46.
Total Malta Government Stock turnover amounted to a nominal value of Lm359,600 being traded in 94 deals over 26 different stocks. Trading over the week in corporate bonds was made up of a total value of Lm228,162.
The Malta Stock Exchange Share Index increased by 327.48 points or 7.98 per cent over the week and now stands at 4,432.318.
Azzopardi Investment Management Limited is licensed by the MFSA to provide investment services, including stockbroking. The Directors or related parties, including the company and their clients, are likely to have an interest in securities mentioned. This article is only meant to provide information and is not intended to give investment advice. The value of securities, and the currencies in which they are denominated, may go down as well as up.