BOV closes at a new 2010 high of €3.77

The share price of Bank of Valletta plc closed higher for the fourth successive session on volumes of over 20,000 shares this morning. During this shortened four-day week BOV’s equity gained 1.9% to a new 2010 closing high of €3.77. Activity in BOV during the past 4 trading sessions amounted to 99,066 shares on renewed demand ahead of the 1 for 5 bonus share issue.

Gains in GO plc and FIMBank plc also helped the MSE Share Index advance by 0.26% today to end the week 1% higher at 3,504.846 points.

GO edged minimally higher to the €1.92 level with FIMBank recovering most of the losses registered on Tuesday. 26,000 FIMBank shares traded at the USD0.94 level, representing a gain of 2.1% from last Tuesday’s close. Another equity to recover strongly from recent losses was GlobalCapital plc. Its share price climbed by 19.1% to regain the €1.50 level on low volumes of 4,800 shares.

While BOV edged higher during each of the past four sessions, the share price of HSBC Bank Malta plc closed the day unchanged at the €2.93 level while Lombard Bank Malta plc shed 1.15% to €2.57. Unsatisfied bids in HSBC are already placed at the €2.95 level with offers in the market at €3.00.

MIDI plc today announced the results of its recent share issue. MIDI revealed that it received a total of 45,147,700 ordinary shares as part of the public offer and 22,222,222 ordinary shares as part of the new issue to existing shareholders. MIDI noted that it will be satisfying all applications received by utilising part of its over-allotment option. Consequently the Company will be issuing and allotting 67,369,922 new ordinary shares of a nominal value of €0.20 each, fully paid up. As a result, the total issued share capital of MIDI plc will consist of €42,831,984.40 made up of 214,159,922 ordinary shares having a nominal value of €0.20 each. These ordinary shares will shortly be admitted to the Official List of the Malta Stock Exchange.

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