Hailey Borg
APS Bank shares experience second-highest trading volume in 12 months following news of potential HSBC Malta acquisition.
The announcement that APS Bank is in advanced discussions regarding a potential acquisition of HSBC Bank Malta has triggered significant trading activity in shares of both locally listed companies.
On Wednesday it was revealed that APS Bank is progressing with negotiations with HSBC Holdings plc for the possible takeover of its Maltese operations, branded as HSBC Bank Malta.
This news caused HSBC Malta’s share price to drop by 18%, falling to €1.35 and wiping out over €110 million from its market capitalisation.
Conversely, APS Bank’s share price surged by 11.5%, reaching €0.58.
By Thursday, both stocks saw continued robust trading. HSBC Malta’s share price recovered to €1.48, while APS Bank experienced a slight dip to €0.57.
Thursday marked the second-highest trading volume in APS Bank shares over the past year, with 286,640 shares traded across 71 transactions, amounting to a total value of €173,058.60.
Meanwhile, HSBC Bank Malta saw 21 trades, with 41,546 shares exchanged, valued at €59,199.99.
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