The new share issue of Malita Investments plc was closed this afternoon due to oversubscription.
Malita, which was set up to fund the City Gate Project, will be exercising the over-allotment option of the additional 10 million shares and as such it will issue and list 30,000,000 new 'B' shares.
The company will be publishing the allocation policy by August 2 in accordance with the prospectus dated July 2.
Malita Investments plc was set up in June last year by the government as an investment holding company with the mandate to acquire, develop and manage both public and commercial real estate properties.
The government holds 118,108,062 ordinary ‘A’ shares in the company.
Meanwhile shallow trading activity was evidenced across the secondary market with the MSE Share Index easing 0.1% lower to 3,126.626 points.
The share price of Malta International Airport plc retreated by 1% to €1.77 as the equity turned ex-dividend as from today.
The net interim dividend of 3c per share will now be paid on September 10.
GO plc also closed in negative territory with a 1% drop back to the €1.05 level across two small deals totalling 1,096 shares.
Meanwhile, 4,296 Bank of Valletta plc shares traded today at the €2.09 level, unchanged from the previous close.
On the bond market, the Rizzo Farrugia MGS Index edged 0.1% higher to 993.308 points as Eurozone yields slid back to the 1.23% level this morning.
However, later on in the day, benchmark German bund yields surged to a two-week high of 1.34% after the European Central Bank's President Mario Draghi stated that the ECB will do whatever is necessary to save the euro.
This statement also eased some of the concerns over Spain and Italy with Spanish 10-year yields dropping back to the 7% level whilst Italy's borrowing costs eased closer to the 6% level.
Mr Draghi's statement also lifted the euro which regained the USD1.23 level against the US Dollar. Similarly, equity markets rallied with the FTSE 100 currently 1.3% higher and the German DAX up 1.7%.
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