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.
The Malta Chamber elects William Spiteri Bailey as its 73rd President
He emphasises a vision for a resilient, innovative, and inclusive economy
Malta records highest immigration rate in the EU for 2023, as bloc sees overall decline in newcomers
These statistics come as the EU registered a drop in overall immigration in 2023
Malta Employers 60th AGM sheds light on future direction and reinforces commitment to good governance
A major focal point of the AGM was the importance of good governance in the country’s economic and regulatory landscape