Share index opens in positive territory

The MSE Equity Price Index opened the week in positive territory as it gained 0.67% to 3,736.179 points. MIA, GO, HSBC and Farsons trended higher whilst another four companies closed unchanged. Overall trading activity was muted as only €0.11 million worth of shares changed hands.

APS Bank plc announced that it authorised the submission of an application in connection with a proposed public issue of up to 110 million new shares (including an over-allotment option of 10 million new shares) at an issue price of €0.62 per share.

The new shares will be offered for subscription to the general public and preferred applicants namely APS directors and employees as well as APS bondholders as at close of trading on 19 May 2022. APS noted that it entered into pre-allocation agreements with various authorised financial intermediaries and investors. In terms of these pre-allocation agreements, the Bank is conditionally bound to issue just under 69.7 million new shares at an average price of €0.594 per share equivalent to €41.4 million.

As a result, a total of 40.3 million new shares (when also including the over-allotment option) will be available for subscription by the general public and...