APS Bank rings Malta Stock Exchange bell again

Recently the Malta Stock Exchange hosted the ‘Ringing of the Bell’ event to mark the listing of €50 million 5.8% Unsecured Subordinated Bonds due 2028–2033, on the Official List of the Malta Stock Exchange.

In his welcome speech, Malta Stock Exchange Chairman Joseph Portelli commented: “I’ve seen how APS Bank works. I really respect its culture of doing the right things… APS has a very strong duty to its shareholders, and this is something which I fear we do not talk enough about. When you are a corporate entity, and you issue an equity on any exchange, you have a serious responsibility to your shareholders… to not only create a profit and pay a dividend, but to grow that profit and dividend.”

Marcel Cassar, APS Bank CEO, commented: “30 years ago today, I was in Gozo in preparation for an important two-day conference that was going to launch Malta’s transformation from an offshore centre to an international financial centre. They were momentous days that would see a raft of important legislation come to life, including changes to the MSE Act, a new Insider Dealing Act, Banking Act, Investment Services Act, Professional Secrecy Act, and much more. Because of those building blocks of 30 years ago, and of the good stewardship of the Malta Stock Exchange throughout, we are where we are today, ringing the bell once again.”

The event was attended by members of APS Bank Management and colleagues who worked closest on the Bond Issue. Also, present were senior representatives from the Sponsor and Managers Rizzo Farrugia & Co., Legal Counsel Ganado Advocates and management and staff of the Malta Stock Exchange.