News that APS Bank is in the midst of advanced negotiations relating to the possible acquisition of HSBC Bank Malta has led to vigorous trading in both local listed companies’ shares.
On Wednesday (yesterday), sister portal WhosWho.mt broke the news that APS Bank is at an advanced stage of negotiations with HSBC Holdings plc over the possible takeover of its local operation, trading as HSBC Bank Malta.
That news sent HSBC Malta’s share price plummeting 18 per cent downwards to €1.35, shedding over €110 million of its total market capitalisation.
Meanwhile, APS Bank’s share price rose by 11.5 per cent to reach €0.58.
On Thursday (today), both stocks saw vigorous trading activity.
HSBC Bank’s share price rallied back to €1.48, while APS Bank’s saw a minor decline to €0.57.
Notably, Thursday saw the largest volume of APS Bank shares changing hands in just under six months. It represents the day with the second-most trading activity in the company’s stock in the last 12 months, with 286,640 shares changing hands across 71 trades for a total value traded of €173,058.60.
Meanwhile, there were 21 trades in HSBC Bank Malta stock, representing 41,546 shares with a value of €59,199.99.
Farmhouse once used by 1798 Maltese rebellion leader goes on sale for €2.5m
It once served as the headquarters of Vincenzo Borg, one of the leaders in the Maltese uprising against the French
Strengthening the fight against finance crime: Malta’s cooperation with Asian partners
Matthew Scicluna highlights how these partnerships strengthen Malta’s position as a global financial hub and benefit local businesses
Gozo Channel’s car capacity set to increase by 117 vehicles
The passenger ferries will have enough space for 625 cars once the investment is complete