IHI announces approval of €60m 10-year bond at 6%

The MSE Equity Price Index surged by 1.1% to a two-week high of 3,702.197 points as the gains in APS, IHI, PG, and LifeStar Insurance outweighed the decline in Lombard. Meanwhile, two other equities closed unchanged. Download today’s Equity Market Summary.

International Hotel Investments plc gained 9% to an eight-week high of €0.545 across five trades totalling 15,473 shares. Following the close of trading, IHI announced the approval of €60 million unsecured bonds maturing in 2033 at a coupon of 6%. The Prospectus will be published tomorrow.

Also among large companies by market cap, PG plc advanced by 1% to the €2.06 level across three deals totalling 7,000 shares.

APS Bank plc recovered yesterday’s losses as it rebounded by 1.7% to the €0.61 level on a single trade of 4,951 shares.

The share price of LifeStar Insurance plc more than doubled to €0.50 over trivial volumes.

Lombard Bank Malta plc slumped by 11.1% to the €0.80 level on one deal of 2,100 shares as it traded for the first time following the cut-off for the entitlement to a rights issue of two shares for every three shares at an offer price of €0.75. This evening, Lombard is hosting a shareholders’ information session to eligible shareholders.

Also in the banking sector, HSBC Bank Malta plc closed unchanged at the €1.16 level after failing to hold onto an intraday high of €1.18 (+1.7%) across six trades totalling 6,309 shares.

Malta International Airport plc closed unchanged at the €5.70 level after recovering from an intraday low of €5.50 (-3.5%) across eight deals totalling 6,300 shares.

The RF MGS Index remained virtually changed at 856.143 points. The consumer climate in Germany fell to the lowest reading since April according to a leading indicator. The sentiment is likely to be negatively impacted by the high inflation which is challenging private consumption. Meanwhile, the Euro weakened against the US Dollar to reach the USD1.05 level, the lowest level since the start of the year.

This report contains public information only and is not to be construed as investment advice or an offer to buy or sell any securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited 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.