Friday 19 April 2024

MALTA PROPERTIES COMPANY SHARES BEGIN TRADING

Shares in Malta Properties Company (MPC) begin trading on the Malta Stock Exchange today, following admittance to listing yesterday. This milestone represents the final step in MPC’s spin-off from GO plc which began in July of this year and through which all GO shareholders received exactly the same number of shares in MPC as they already had in GO.
MPC owns and administers a property portfolio covering 12 different sites which were valued at €53 million prior to the spin-off from GO. The Company’s aim is to fulfil the considerable redevelopment potential of these sites and become a leading provider of premium real estate in Malta. MPC is already working on plans to redevelop the sites of the existing Zejtun and Marsa exchanges, with the former earmarked to become Malta’s largest state-of-the-art data centre.
Mr. Deepak Padmanabhan, MPC’s Chairman, said, “Today marks the birth of MPC as a company in its own right, completely separate to GO and focused on delivering premium property services to our clients, particularly our anchor tenant GO plc, as well as maximising long-term value for our shareholders from our extensive property portfolio. The spin-off from GO has already given all GO’s shareholders an excellent return and from today MPC also offers the broader investing Maltese public a great opportunity to participate in our journey.”

© 2024 Josanne Cassar.