Mediter­ranean Mar­itime Hub Fi­nance plc starts trad­ing on Malta Stock Ex­change

Malta Independent - - BUSINESS & FINANCE -

Mediter­ranean Mar­itime Hub Fi­nance plc has be­gun trad­ing on the Malta Stock Ex­change after last month’s is­sue of €15 mil­lion in un­se­cured bonds was over­sub­scribed be­fore its of­fi­cial clo­sure.

The funds will be used to de­velop the Mediter­ranean Mar­itime Hub into a service cen­tre for the ma­rine, oil and gas in­dus­try.

“This suc­cess gives us great sat­is­fac­tion; it is a clear in­di­ca­tion of the strong rep­u­ta­tion our com­pany en­joys,” MMH CEO Stephen Colville said.

The hub will be lo­cated on the circa 170,000-square-me­tre site of the for­mer Marsa Ship­build­ing, which was taken over by Able­care Oil­field Ser­vices Hold­ings ear­lier this year, after it won a com­pet­i­tive bid by the gov­ern­ment. The land was leased for 65 years, and the com­pany plans to de­velop the hub with an in­vest­ment of around €50 mil­lion over the next 10 years.

The oil and gas in­dus­try in the Mediter­ranean has a des­per­ate need for as­sured project de­liv­ery on tim­ing, cost, safety and qual­ity, right across a broad spec­trum of ac­tiv­ity, and the hub is fo­cus­ing on achiev­ing just this.

“The hub will be pro­vid­ing avail­abil­ity, pre­dictabil­ity, re­li­a­bil­ity and re­peata­bil­ity through a num­ber of unique sell­ing points, mainly that ev­ery­thing is lo­cated in one place oper­at­ing in a free trade zone,” Mr Colville added.

The bond is­sue was al­lo­cated among four au­tho­rised fi­nan­cial in­ter­me­di­aries: Cala­matta Cuschieri In­vest­ment Ser­vices Ltd, Crys­tal Fi­nance In­vest­ments Ltd, Des­mond Mizzi Fi­nan­cial Ad­vi­sors Ltd and Michael Grech Fi­nan­cial In­vest­ments Ltd. The com­pany thanked the pub­lic, the in­sti­tu­tional in­vestors and the fi­nan­cial in­ter­me­di­aries for be­liev­ing in its project.

Malta Stock Ex­change CEO Si­mon Zam­mit (third from left) and Cala­matta Cuschieri co-CEO Nick Cala­matta (right) wel­com­ing MMH Fi­nance plc to the fold and con­grat­u­lat­ing di­rec­tors An­gelique Maggi and Ray Ciantar.

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