The share price of International Hotel Investments plc jumped 4% during this morning’s trading session on the Borza to regain the €0.78 level across two trades totalling more than 100,000 shares. Yesterday, IHI announced that it completed the acquisition of Marina San Gorg Limited which fully owns the 200-room Marina Hotel in St. George’s Bay, St. Julian’s. However, the announcement failed to reveal the total consideration paid for Marina San Gorg Limited which was previously owned by IHI’s majority shareholder, Corinthia Palace Hotel Company Limited. The upturn in IHI’s equity offset the declines in most of the other active equities to lift the MSE Share Index marginally higher to 2,994.711 points.
Bank of Valletta plc’s equity slid a further 1.4% lower to €2.18 on volumes of 16,454 shares whilst HSBC Bank Malta plc, active for the first time in the last three sessions, traded unchanged at the €2.55 level across 4,235 shares. Also in the financial sector, Lombard Bank Malta plc eased 0.4% lower to a new 16-month low of €2.52 on a single deal of 9,700 shares.
GO plc also registered a negative performance with its share price plunging a further 5.2% to a fresh all-time low of €0.832 across six trades totalling 12,110 shares. The Greek company Forthnet has not yet issued an announcement following the failure to conclude a €30 million rights issue during last month’s Extraordinary General Meeting.
Malta International Airport plc’s share price also closed in negative territory today as it eased 1.7% lower to €1.72 on volumes of 13,512 shares. This morning, MIA issued a press release stating that for the second consecutive year it has been ranked as the top airport in Europe across all categories for 2011 in the annual ACI Airport Service Quality (ASQ) passenger survey.
On the IT front, Crimsonwing plc’s equity slumped a further 11.1% to yet another all-time low of €0.16 across five trades amounting to more than 52,800 shares. The IT Company generally publishes an Interim Directors’ Statement in February to update investors on its performance since its half-year end in September.
On the bond market, the Rizzo Farrugia MGS Index edged a further 0.1% higher today as the Central Bank of Malta increased the indicative bid prices of most of the Malta Government Stocks. Following yesterday’s listing of the institutional tranches of the 3 new Malta Government Stocks, the Central Bank issued an indicative bid price of the 4.30% MGS 2022 for the first time. The price was established at 100.41% compared to the recent offer price of 100%.
This afternoon, Corinthia Finance plc announced that it has submitted an application to the Listing Authority with respect to a new issue of €7.5 million bonds maturing between 2019 and 2022. The announcement also revealed that the proceeds will be mainly used to partly finance the redemption of the existing €14.6 million 6.75% Corinthia Finance Bonds which will mature on 8 April. The new bond will be issued and traded in lots of €1,000 subject to a minimum of €10,000.