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Globe’s share price registers
4.8 per cent increase on first day
by David Kelleher
A total of 61,500 shares changed hands as Globe Financial Management
began trading yesterday
morning.
The share price registered an increase of 4.8 per cent at the
end of trading. Shares in this equity were first being offered
at Lm0.50, but offers started creeping below this level before
the first deal, for 45,000 shares, was struck at Lm0.42. Another
16,500-share deal was struck at Lm0.44, a 2c (4.8 per cent)
increase on its issue price. One broker was responsible for
both sides of the transactions. One bid lies on the market –
2,300 shares at Lm0.38, against 5,000 shares on offer at Lm0.44.
A total of 35 million ordinary shares in Globe Financial Management
plc, of a nominal value of 2c5 were admitted to the Malta Stock
Exchange yesterday. The share issue price for the company’s
IPO was 42c. The subscription offer was closed after it was
oversubscribed.
Present for yesterday morning’s trading session which began
at 10am were chairman Christopher Pace, deputy chairman James
Blake, and head of compliance, Andrew Hammond.
A spokesman for the company said: “We have worked hard
to reach this stage, and view it as another milestone in the
development of Globe Financial
Management.”
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