Times of Malta is reporting that Amalgamated Investments, a small private fund based in Malta valued up to €105 million, has bought up to 1.58% of Unicredit’s remaining 5.21% share of Bank of Valletta. Times of Malta is reporting that Amalgamated Investments, which mostly owns Maltese stocks with BOV being one of its major holdings, now owns a total of 5.56% of BOV making the second largest shareholder after Hili Group. The details of the sale have not been made public.
BOV’s stock price had a very strong run since it May 2022 bottom as it kept posting good results defying expectations. Unicredit doesn’t seem to lack a series of local buyers interested in purchasing its shares of BOV.
BOV has not issued a statement about the sale yet.
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