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The Maltese Herald

HSBC Malta shares rise by 6.28% following announcement of sale to CrediaBank

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by

Mark Camilleri
in ,

HSBC Malta’s stock price has opened 6.28% higher compared to yesterday’s close at €1.33 and hitting a high of €1.43 during trading hours this morning. Yesterday, following the market’s close, HSBC Malta announced that HSBC Continental Europe was to sell its 70.03% shareholding in HSBC Malta to CrediaBank in a potential transaction via a put option. CrediaBank will potentially be paying up to €0.793 per share to a total of €200 million of for all of HSBC Continental Europe’s shares in HSBC Malta.

The sale may come at a significant market discount with the bank currently valued at around €479 million. The company also announced that the price for the minority shareholders will remain at €1.44. You can find the company’s announcement here.

 

Comments

3 responses to “HSBC Malta shares rise by 6.28% following announcement of sale to CrediaBank”

  1. HSBC Malta staff goes on strike - The Maltese Herald avatar
    HSBC Malta staff goes on strike - The Maltese Herald

    […] at HSBC Malta have gone on strike over compensation details for employees tied to the sale of the bank to Credia Bank.  The strike directive has been issued by the Malta Union of Banking Employees who are demanding […]

    Reply
  2. HSBC Malta workers split on strike: PN states priority is the job of employees and calls on Credia Bank to up its offer to minority shareholders - The Maltese Herald avatar
    HSBC Malta workers split on strike: PN states priority is the job of employees and calls on Credia Bank to up its offer to minority shareholders - The Maltese Herald

    […] Meanwhile, the Nationalist Party has called on Credia Bank to increase its offer for the share owned by minority shareholders to the bank’s book value, equivalent at €1.71 per share. Credia Bank is acquired HSBC Malta at a considerable discount. […]

    Reply
  3. HSBC Holdings to write a $300 million loss over HSBC Malta Sale - The Maltese Herald avatar
    HSBC Holdings to write a $300 million loss over HSBC Malta Sale - The Maltese Herald

    […] losses of HSBC Holdings will be accounted in book value. HSBC Malta had a market capitalisation of up to €479 million on the Malta Stock Exchange before it was sold to Credia Bank for up to €200 […]

    Reply

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