28 June 2006

The Web
Business Today

Changes in shareholding of listed companies

At least three financial institutions listed on the Malta Stock Exchange have experienced changes in shareholding over the past month with the latest being Bank of Valletta’s Sicilian shareholding.
The second largest single shareholder in BOV, Banco Di Sicilia Spa, yesterday announced the transfer of its shareholding to a holding company, Capitalia SpA.
The shareholding being transferred is 14.55% of BOV. The ultimate beneficial owner will remain the same.
The second announcement made yesterday came from Middlesea Insurance plc. The company said that its second largest shareholder, owning 21%, Corporacion Mapfre S.A. was restructuring its non-Spanish investments to go to a holding company, Mapfre Internacional S.A. which is fully owned by it.
Earlier in the month Lombard Bank plc announced that the largest single shareholder, Banco Unione di Credito which forms part of the FIAT group was sold to Banca della Svizzera Italiana. This formed part of FIAT’s strategy of exiting from non-core operations. As a result of this transaction Lombard has a new owner for 26.55% of its shares.
These movements show that the globalised market is much nearer to home. With companies restructuring or divesting their non-core assts we are experiencing new names in the local shareholders register.

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