On 7 December 2017, Bank of Valletta plc announced the result of the €150 million 1-for-4 Rights Issue. The total amount of subscriptions amounted to €197 million, resulting in an oversubscription of approximately €47 million.
The Bank noted that subscriptions received from existing shareholders and/or their assignees exceeded the amount of 105 million new shares on offer. Existing shareholders or their assignees that applied for part or all of their proportionate entitlement will be allocated all amounts applied for. Moreover, subscriptions for lapsed rights by existing shareholders will be scaled down in accordance with the allocation policy to be announced by 19 December 2017. Refunds of unallocated monies in respect of lapsed rights applied for by existing shareholders will be effected by 28 December 2017.