BOV announces bond allocation policy

The MSE Equity Price Index rose by 0.55% to 3,832.293 points as the gains in APS, BOV, HSBC and MIA outweighed the declines in Farsons, Computime and IHI. Meanwhile, three other equities closed unchanged as today’s trading activity amounted to €0.23 million. Download today’s Equity Market Summary.

Bank of Valletta plc moved 2.0% higher to the €2.08 level across twenty-one trades amounting to 57,456 shares. Today, BOV announced the allocation policy with respect to the recent offer of up to €150 million 5.00% unsecured subordinated bonds 2030-35. The Bank explained that it received a total of 4,205 applications for a total value of €182.8 million. In view of the oversubscription and the closing of the offer period ahead of schedule, BOV also announced changes to the timetable. The interest on the bonds will start to accrue from Tuesday 24 June 2025 and the bonds will be admitted to listing on Tuesday 1 July 2025. In this respect, the first interest payment of the bond will be made on 7 July 2026 with the interest covering the period between 24 June 2025 and 6 July 2026. Meanwhile, trading is expected to commence on Wednesday 2 July 2025. Notably, refunds of unallocated monies will be effected by 1 July 2025.

Also in the banking sector, APS Bank plc surged by 6.9% to the €0.54 level albeit over trivial volumes.

HSBC Bank Malta plc increased by 0.7% to the €1.39 level over six trades totalling 30,297 shares.

Also among large companies by market value, Malta International Airport plc advanced by 0.8% to the €5.95 level across six deals amounting to 3,080 shares.

On the other hand, Simonds Farsons Cisk plc shed 0.8% to close at the €6.20 level on a single deal of 268 shares.

International Hotel Investment plc slumped by 5.9% to the €0.45 level on two trades totalling 26,000 shares.

A single trade of 3,000 shares pulled the share price of Computime Holdings plc 2.2% lower to the €0.45 level.

Meanwhile, the ordinary shares of RS2 plc closed unchanged at the €0.38 level across ten trades amounting to 96,250 shares. RS2 held its Annual General Meeting today. On a separate announcement today RS2 also announced that it has entered into a collaboration agreement with Visa USA Inc., a world leader in digital payments, to offer an end-to-end acceptance infrastructure proposition.

Lombard Bank Malta plc held the €0.735 level on a single deal of 1,500 shares.

GO plc held the €2.70 level on muted activity.

Yesterday, AX Real Estate plc published its interim financial results covering the six-month period ended 30 April 2025. Revenue increased by 4.6% to €7.1 million primarily driven by higher variable rent from the hospitality properties, reflecting improved operational performance from the hotels. Operating expenses (net of other income) amounted to €0.48 million, essentially flat yoy. As a result, operating profit increased by 5.2% to €6.7 million compared to €6.3 million in the corresponding period last year. Consequently, the operating profit margin remained relatively unchanged at 93.3%. Meanwhile, net finance costs remained practically unchanged at €3.2 million. After accounting for a tax charge of €0.60 million, AX Real Estate reported a net profit of €2.86 million compared to €2.60 million in the corresponding period last year.  Total equity stood at €138 million (31 October 2024: €137 million) which translates into a net asset value per share of €0.5021 (31 October 2024: €0.500).

The RF MGS Index rose by 0.23% to 917.347 points. Today sovereign bond yields fell as a ceasefire between Israel and Iran seems to have been reached. The news eased concerns over potential oil supply disruptions, resulting in oil prices plummeting for the second consecutive session. Consequently, oil prices are now lower than those of June 12, the day on which Israel first attacked Iran.

 

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.