Movements in equity and bond indices The MSE Equity Total Return Index closed in the red for a third consecutive week, 0.4% lower at 8,892.602 points. A total of 25 issues were active, four of which headed north while another 10 closed in the opposite direction. The weekly total turnover reached €1.5m across 238 transactions. The MSE Corporate Bonds
HSBC Continental Europe, the French parent shareholder of HSBC Malta, has come to a binding preliminary agreement with CrediaBank Greece for the sale of its 70% shareholding in the Maltese bank for the sum of €200 million, equivalent to €0.793 per share. This effectively means that HSBC is selling the bank for less than they had originally bought it
The MSE Equity Price Index fell by 0.77% to a three-week low of 3,790.020 points driven by declines in BOV, GO, HSBC, Mapfre Middlesea, Plaza and Farsons. Meanwhile, four other equities closed unchanged as today’s trading activity amounted to €0.36 million. Bank of Valletta plc was today’s most actively traded equity accounting for almost 75% of today’s
CrediaBank said it will be acquiring HSBC Malta for less than half its book value, telling investors yesterday it will be paying about €228m under the bank’s book value to close the deal. HSBC and CrediaBank announced in twin statements on Tuesday they had reached an agreement for a deal against a €200m cash consideration, at a rate of 0.793 per share
HSBC, Malta’s second-largest bank, has been sold at a significant discount, shaving off its value by over €260 million. This move indicates the international bank’s desire to exit the Maltese market as soon as possible. Also, many small shareholders, expecting a fair return on their investment, have been disappointed as they were promised a price significantly