The equity of Malita Investments plc maintained its all-time high of 55c this morning on high trading activity of 250,000 shares.
In its recent announcement, Malita stated that its performance during the first four months of 2014 remained in line with the forecasts published in the IPO prospectus.
The directors explained that the company’s financial performance for the financial year ending December 31 was expected to be within that projected for the period of a net profit of €4.8 million.
Elsewhere across the local equity market, trading activity was weak and prices generally declined. In fact, the MSE Share Index shed a further 0.3 per cent to 3,382.748 points as most of the active equities closed lower.
The share price of Bank of Valletta plc dropped by 0.5 per cent to 2.12 on lower volumes of 4,748 shares while HSBC Bank Malta plc was the only positive performer of the day with a minimal increase to €2.09,1 across 5,200 shares.
Also in the banking sector, the US Dollar denominated equity of FIMBank plc dropped 2.6 per cent to 75cUS on volumes of 18,500 shares.
Yesterday afternoon, FIMBank announced the terms of the upcoming $50 million rights issue.
FIMBank confirmed that it submitted an application to the Listing Authority requesting the admissibility to listing of 77,009,494 new ordinary shares of a nominal value of 50cUS per share which will be available for subscription by those shareholders as at the close of trading on May 16.
Shareholders will be offered the opportunity to acquire 16 new shares for every 41 existing shares at an offer price of 65cUS per share.
The only other active equities were Malta International Airport plc and Tigne Mall plc.
The share price of the airport operator lost 1.75 per cent to €2.24 on low volumes of 4,000 shares and the equity of Tigne Mall eased one per cent lower to 52c on a single deal of only 1,000 shares.
On the bond market, the Rizzo Farrugia MGS Index eased marginally to 1,039.215 points as the decline in the long-dated MGS offset the gains across the medium term issues.
On Thursday afternoon, the Treasury of Malta is expected to publish the offer price of the new fixed-rate Malta Government Stock.
A total aggregate amount of €100 million subject to an over-allotment option of up to a further €80 million is being offered across a fixed-rate stock and a floating rate stock.
The public has the opportunity of applying only in the new 4.3 per cent MGS 2033 (I) in multiples of €100 and up to a maximum of €100,000 (nominal) per application.
Subscriptions open on Monday and close on Wednesday for the public.
www.rizzofarrugia.com