Current Affairs
105m Bank of Valletta new shares oversubscribed

The 105 million Bank of Valletta new ordinary shares, with a capital of €150 million, were oversubscribed, with the bank receiving more applications than its offer.

Bank of Valletta said in a statement that this was the biggest equity issue ever made in Malta, with the bank receiving applications amounting to almost €200 million – €50 million more than the offer.

BOV Chairman, Deo Scerri, said that this was an overwhelming vote of confidence in the bank by the existing shareholders and the market in general.

He added that with a stronger capital base, the Bank has not only exceeded its current regulatory obligations, but can continue to invest in the infrastructure and distribution channels that will drive its growth over the coming years.

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