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The Ministry for Investment, Industry and IT will today announce the sale of 13,530,000 shares in Malta International Airport to the Maltese public, at a price of Lm1.40 per share.
The transaction is envisaged to be completed before the end of 2005 for the government’s 20 per cent shareholding in MIA. Government currently holds a total shareholding of 40 per cent after having sold 40 per cent shareholding to a consortium that includes Vienna airport in 2002, and a further 20 per cent in an initial public offering in November that year.
In a company announcement Malta International Airport stated that the company was advised by the ministry through the privatisation unit that the government has determined the general offer price of Lm1.40 per share for the forthcoming sale.
Trading on the Malta Stock Exchange for MIA shares yesterday closed at Lm1.40 with a total of 10,177 shares being exchanged in five trades worth Lm14,247.80.
Stockbrokers’ clients were already showing an interest in the MIA sale to be launched today, according to stockbroker Jesmond Mizzi who said the public which was informed did inquire and ask to be kept informed on the sale.
All details related to the sale of the shares will be formally announced today at the Malta Hilton, Portomaso Suite, at 11.30am.
Investments Minister Austin Gatt will be addressing the conference in which details of the public share offer will be announced. |
