Daily Review 04.06.2024

Hili Finance receives approval for €80 million bond issue


The MSE Equity Price Index increased by 0.08% to 3,709.001 points as the gains in IHI, MIA and PG outweighed the declines in GO, APS and BMIT. Meanwhile, two other equities closed unchanged, as the total trading activity in local equities was €0.22 million. Download today’s Equity Market Summary.

Today Hili Finance Company plc announced that it received approval for a bond issue of €80 million 5% Unsecured Bonds 2029. The Company explained that up to €36 million will be available for 1923 Investments bondholders to roll over their holdings. Another €34 million together with the balance of 1923 bonds not rolled over will be reserved for Preferred applicants which include directors and employees of Hili Ventures Limited and its parent and subsidiary entities as well as holders of securities in these companies. Furthermore, an amount of €10 million together with any other balance of bonds not taken up will be available for subscription by the general public ranking pari passu without priority or preference. The Company also announced that the offer period will run between 19 June 2024 and 10 July 2024.

Malta International Airport plc moved 0.9% higher to the €5.65 level across four trades totalling 1,955 shares.

Also among large companies by market value, International Hotel Investments plc edged 2.2% higher to the €0.46 level on two deals of 1,150 shares.

PG plc increased by 1.0% to a one-month high of €1.98 over three trades amounting to 10,000 shares.

GO plc moved 0.7% lower to the €2.98 level across four trades totalling 9,000 shares.

Similarly, GO’s subsidiary BMIT Technologies plc slumped by 6.4% to the €0.352 level on two trades of 6,900 shares.

APS Bank plc shed 1.0% to the €0.52 level albeit over trivial volumes.

Bank of Valletta plc was today’s most actively traded equity as it closed unchanged at the €1.40 level over nine trades amounting to 110,195 shares.

Also in the banking sector, HSBC Bank Malta plc held the €1.40 level as 1,976 shares changed hands.

The RF MGS Index fully reversed last week’s losses as it surged by 0.56% to a two-week high of 891.099 points in line with decreases in yields in other European sovereign bond yields, with the German 10-year bund yield in particular approaching a two-week low at around 2.53%. The focus will now be on the meeting of the European Central Bank on Thursday 6 June.


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.