BMIT to acquire subsea cable capacity in Cyprus for €6.9 million
Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.
The MSE Equity Price Index eased by 0.10% to 4,216.0 points as the decline in GO outweighed the gains in Computime, The Convenience Shop, Grand Harbour Marina, and Mapfre Malta. A further eight equities closed unchanged. Total trading value was subdued at just €43,000, the lowest since 28 May. Download today’s Equity Market Summary.
Today, BMIT Technologies plc announced that its wholly-owned Cypriot subsidiary has entered into an agreement to acquire from Cablenet Communication Systems plc an indefeasible right of use over 5% of the capacity of the Arsinoe submarine cable system, which links Cyprus to Egypt and France, for a consideration of €6.9 million. The right of use runs until February 2047, with Cablenet retaining around 45% of the capacity under a pricing agreement and paying BMIT a guaranteed annual service fee for the remainder of the term. BMIT described the acquisition as its first significant investment outside Malta and said that it expects an immediate contribution to revenue and EBITDA.
Computime Holdings plc was the most actively traded equity of the session as it advanced by 2.1% to €0.49 across 21,000 shares. Yesterday, Computime Holdings plc published its interim results covering the six-month period ended 30 June 2026. Revenue increased by 9.5% to €12.7 million (H1 2025: €11.6 million) driven by growth across all reportable segments namely Systems Integration (+11.6% to €8.33 million), FinTech (+11.1% to €1.91 million) and Business Software (+5.8% to €1.84 million). Profit before tax increased by 11.7% to €2.32 million and the net profit attributable to shareholders amounted to €2.06 million. The Board of Directors declared an interim net dividend of €0.012325 per share, which is 15% higher than the interim dividend paid for the same period last year. The dividend represents a payout ratio of 37% and is payable to all shareholders as at the close of trading on Monday 28 September 2026 and will be paid by Friday 16 October 2026.
The Convenience Shop (Holding) plc rebounded by 5.4% to €0.685 on a single trade of 1,500 shares.
Grand Harbour Marina plc gained 3.7% to €0.975 and Mapfre Malta plc added 0.7% to €1.41, both on negligible volume.
In contrast, GO plc was the only negative performer as it slipped by 3.1% to €2.50 on a single trade of just 160 shares.
Malta International Airport plc held the €6.60 level across 1,179 shares, while Bank of Valletta plc stayed at €2.19 on a single trade of 1,900 shares.
Quinco Holdings plc closed unchanged at €0.88, although most of the 5,100 shares that traded exchanged hands at €0.80 (-9.1%).
HSBC Bank Malta plc closed unchanged at €1.49 across 4,486 shares.
AX Real Estate plc held the €0.49 level on a single trade of 10,000 shares. Today, AX Real Estate announced that last week it bought back 72,764 of its own shares at €0.49 per share.
Malta Properties Company plc ended unchanged at €0.416 after recovering from a low of €0.376 (-9.6%), while International Hotel Investments plc held the €0.58 level on trivial volume.
M&Z plc stayed at the €0.56 level across 5,299 shares. Yesterday, M&Z announced that its Board of Directors will be meeting on Tuesday 25 August to consider and approve the unaudited interim financial statements for the six months ended 30 June 2026.
The RF MGS Index edged 0.04% higher to 890.6 points as bid prices firmed across longer-dated Malta Government Stocks, recouping part of the previous session’s decline. Internationally, there was a retreat in long-dated US Treasury yields after the US Treasury announced that it would double the size of its buyback operations in long-dated securities to at least USD4 billion, in an effort to contain the recent surge in yields at the long end of the curve. The 10-year US Treasury yield fell to 4.65%, having tested a 20-month high of 4.75% in the previous session.
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This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.
The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.
This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.