IHI completes sale of Corinthia Lisbon

The MSE Equity Price Index increased by 0.8% to 3,984.1 points as the gains in BOV, IHI, MPC, Plaza, and Hili Properties outweighed the declines in GO and Quinco. Today’s trading activity on the main market amounted to €0.15 million. Trading on the Malta Stock Exchange resumes on Tuesday 7 April. Download today’s Equity Market Summary.

International Hotel Investments plc advanced by 8.7% to a six-month high of €0.474 across six trades amounting to 227,098 shares. Following the close of yesterday’s trading, IHI announced that it has completed the sale of a majority interest in the Corinthia Lisbon, valuing the real estate asset and its operating business at €150 million. Corinthia Hotel Lisbon had an asset value of €144 million as at 31 December 2024. Corinthia Lisbon was acquired by a joint venture (in which IHI has a 28% shareholding) incorporated with Orion European Real Estate Fund VI, a fund managed by Orion Capital Managers. IHI’s subsidiary Corinthia Hotels Limited will continue operating the Corinthia Lisbon on a long-term basis.

The net proceeds to IHI from the transaction amount to €90 million, after accounting for IHI’s €18 million investment in the joint venture, the repayment of existing IHI debt secured against the Corinthia Lisbon property, and other balancing amounts. IHI’s Board of Directors will be allocating the proceeds towards the repayment of other Group loans, the payment of a dividend, and to consider other investments in furthering the worldwide expansion of the IHI Group and its Corinthia Brand.

Earlier this week, IHI also announced that it has entered into contractual arrangements to develop, lease and operate a new luxury Corinthia resort in Borgo di Perolla, Tuscany, Italy.

Bank of Valletta plc climbed 1% higher to the €2.12 level across two deals totalling 3,424 shares. Shareholders as at close of trading on Thursday 7 May 2026 are entitled to a final dividend totalling €0.0764 per share.

Hili Properties plc edged 0.7% higher to the €0.272 level as 90,960 shares changed hands, although the weighted average price for the day was yesterday’s closing price of €0.27.

Plaza Centres plc gained 1.1% to the €0.88 level over lacklustre trading.

Malta Properties Company plc moved 16.7% higher to the €0.42 level albeit over trivial volumes.

In contrast, GO plc eased by 0.8% to the €2.62 level across five trades totalling 4,225 shares. Shareholders as at close of trading on Wednesday 15 April will be entitled to a final net dividend of €0.09 per share.

Quinco Holdings plc fell by 5.3% to the €0.90 level over a single deal of 1,836 shares.

Yesterday, MIDI plc announced that it will hold an Extraordinary General Meeting (EGM) on Tuesday 28 April 2026 for shareholders to consider the approval of the deed of partial rescission of the emphyteutical concession over Manoel Island and Fort Tigné. Shareholders as at close of trading on Wednesday 25 March 2026 will receive an explanatory circular and be entitled to participate and vote at the EGM.

The RF MGS Index dropped by 0.64% to 891.3 points as global bond yields resumed their climb amid heightened geopolitical tensions in the Middle East. US President Donald Trump dampened earlier hopes of de-escalation after stating that military operations in Iran could intensify over the next two to three weeks. This pushed WTI crude oil futures to surge more than 12% to above USD 112 per barrel.

This week, the Treasury Department announced that the amount of issuance of Malta Government Stocks (MGS) during 2026 will not exceed €1.9 billion. The funds raised will be principally used to finance the estimated Government deficit of €852 million and the redemption of five MGS issues and the 62+ Malta Government Saving Bond issued in 2021 which, in aggregate, amount to just over €958 million.

The Treasury explained that the conventional fixed rate MGS will be the primary financial instrument used to fund the Government’s borrowing plan. The Treasury is aiming to spread its issuance programme for 2026 over three to four issuances whilst the maturity structure will be a mix of short, medium, and long-term MGS. Full details of the MGS on offer and the respective amounts and maturities will be published one to two weeks prior to each issuance.

 

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell 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.