Daily Market Highlights (16.05.2022)

APS Bank plc announces issuance of new shares


The MSE Equity Price Index opened the week in positive territory as it gained 0.67% to 3,736.179 points. MIA, GO, HSBC and Farsons trended higher whilst another four companies closed unchanged. Overall trading activity was muted as only €0.11 million worth of shares changed hands. Download today’s Equity Market Summary.

Today, APS Bank plc announced that it authorised the submission of an application in connection with a proposed public issue of up to 110 million new shares (including an over-allotment option of 10 million new shares) at an issue price of €0.62 per share. The new shares will be offered for subscription to the general public and preferred applicants namely APS directors and employees as well as APS bondholders as at close of trading on 19 May 2022. APS noted that it entered into pre-allocation agreements with various authorised financial intermediaries and investors. In terms of these pre-allocation agreements, the Bank is conditionally bound to issue just under 69.7 million new shares at an average price of €0.594 per share equivalent to €41.4 million. As a result, a total of 40.3 million new shares (when also including the over-allotment option) will be available for subscription by the general public and preferred applicants at a price of €0.62 equivalent to just under €25 million. Further details on the proposed Listing and Initial Public Offering, including the method of application for new shares and the timetable for the offer period, will be available in the prospectus to be published by the Bank once regulatory approvals are obtained.

Malta International Airport plc rebounded by 2.6% to regain the €5.85 level across 1,700 shares.

Also among the large companies by market value, GO plc advanced by 3.2% to the €3.20 level on a total of 13,400 shares.

A single deal of 500 shares lifted the share price of Simonds Farsons Cisk plc 0.6% higher to the €7.85 level. Farsons is due to publish its 2021/22 full-year results on 25 May.

HSBC Bank Malta plc advanced by 1.3% to recapture the €0.80 level albeit on trivial volumes.

Meanwhile, AX Real Estate plc traded flat at the €0.55 level as 49,000 shares changed hands.

M&Z plc remained at the €0.77 level after recovering from an intraday low of €0.765 (-0.6%). A total of 24,308 shares traded.

MaltaPost plc stayed at the €1.05 level on a single deal of 5,000 shares.

Grand Harbour Marina plc held on to the €0.62 level on 10,000 shares. Today, the Board of Directors declared the payment of gross dividend of €0.0375 per share. This is payable on Monday 30 May to all shareholders as at close of trading on Thursday 19 May.

The RF MGS Index dropped by 0.35% to 988.125 points as concerns over global economic slowdown continued to dominate international financial markets. Today, the European Commission published its latest economic forecasts which include for the first time the impact of the war in Ukraine. Growth in the euro area is now expected to decelerate to 2.7% in 2022 and 2.3% in 2023 compared to the previous forecasts of an increase in output by 4% and 2.7% respectively. On the other hand, inflation is expected to surge to 6.1% in 2022 but ease to 2.7% in 2023 – both well above earlier estimates of 3.5% and 1.7% respectively. The updated projections also show that Malta’s economy is expected to grow by 4.2% in 2022 (compared to the earlier forecasted growth of 6%) while inflation is projected to reach 4.5% in 2022 (previous forecast: 2.1%).


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.