RS2 Software pre-placement over subscribed

This week the Malta Stock Exchange Index closed at 4,173.044, a loss of 1.27% over last week. Year to date the MSE index is now 15.49% lower.  During the week, twelve equities were negotiated, with four equities closing in positive territory and eight in negative territory.  MaltaPost plc was the best performer whilst GlobalCapital plc lost most territory in the first week of June.

A total of two hundred fifty three deals were registered on the stock exchange for a turnover of over Eur5.3 million. In the equity market one hundred sixty nine transactions were carried out for a total value of over Eur1.23million. In the corporate bond market thirty-four transactions for a total value of Eur269,636 were carried out.  In the government bond market forty-two transactions were executed for a total value of Eur904,283.  Eight transactions were carried out in Treasury Bills for a total value of over Eur2.9 million.

The pre-placement of the Initial Public Offering of RS2 Software p.l.c. which opened on Thursday was oversubscribed. The pre-placement which was made available to investors through authorised intermediaries was for 6,250,000 ordinary shares. The Company and the Offeror are together making a Combined Offering of 12,500,000 shares at Eur0.80 per share with the General Public Offering opening on Monday.  On Wednesday RS2 reported that it has been awarded a contract of Eur600,000 by Transworks LLC of New York. Transworks is an independent sales organisation which facilitates the card transaction process and acts as an intermediary between banks and retailers, processing 400 million transactions a year.

This week FIMBank plc was the only positive performer in the banking sector as its share price increased by 0.05% to $1.89 on twelve deals for a total volume of 196,044 shares.  Lombard Bank Malta plc share price fell by 0.16% to Eur3.07 as 5,669 shares changed hands across three deals. On Friday, it’s share price recovered by 2.33%. Bank of Valletta plc lost most ground in the sector when its share price dropped by 2.72% to Eur4.62 as forty six deals were executed during which 54,269 shares changed hands. On Friday, BOV also recovered 0.02%.  HSBC Bank Malta plc saw its share price lose a further 1.32% to Eur3.75 as 37,256 shares changed hands across thirty-nine transactions.

Middlesea Insurance plc share price fell by 0.58% to Eur3.41 as 84,806 shares changed hands across eleven deals.  Go plc also declined by 3.28% as its share price ended the week at Eur2.65 as 23,356 shares changed hands across seventeen transactions.

International Hotel Investments plc fell 0.09% to Eur1.072 as 6,515 shares changed hands across six deals.  The share price of Plaza Centres plc declined by 1.45% as 65,908 shares changed hands across six deals.  The share price of GlobalCapital plc lost most ground this week as it fell by 3.51% to Eur2.75 on only two deals for a total volume of just 2,000 shares.

Simonds Farsons Cisk plc appreciated by 0.74% to Eur2.73 as 6,460 shares changed hands across five transactions.  The share price of Malta International Airport plc appreciated by 0.16% to Eur3.12 as 28,460 shares changed hands across twenty-one deals.  This week MIA announced that there was an increase of 18.2% in passenger departures during May 2008 (+16.7% year to date).  Lastly, the share price of MaltaPost plc increased by 3.86% to Eur0.78 as 2,089 shares changed hands on a single deal.

On Thursday the Treasury announced that it allotted a total of €106.9 million nominal for last week’s Malta Government Stock issues. The Treasury received 2,089 applications and accepted a total of €61.2 million for the 5.1% MGS 2014 (III) and €45.7 million in the 5% MGS 2021 (I).

This article which was complied by Jesmond Mizzi Financial Services Limited (JMFS) does not intend to give investment advice and the contents therein should not be construed as such.  JMFS is licensed to conduct investment services by the MFSA.  The directors or related parties, including the company, and their clients are likely to have an interest in securities mentioned in this article.  For further information please contact JMFS at 67/3, South Street, Valletta or on Tel: 21224410 or email [email protected].