APS Bank has announced an application to be listed on the Malta Stock Exchange and a public share offer.

The Listing is being sought in connection with a proposed public issue of 100,000,000 new ordinary shares (with an over-allotment option of an additional 10,000,000 new ordinary shares) (the “New Shares”) at an issue price of €0.62 per share (“IPO”). The New Shares will be offered for subscription to (1) the general public and (2) preferred applicants, being directors or employees of the APS group or registered bondholders of the Bank, in each case as at close of business of 23 May 2022 (trading session of 19 May 2022, in the case of bondholders).

The Bank has entered into pre-allocation agreements with various authorised financial intermediaries and investors, pursuant to which investors were able to subscribe for New Shares at an issue price of €0.62, and depending on the total Euro amount invested by each investor, at a discount to the issue price. In terms of these pre-allocation agreements, the Bank is conditionally bound to issue 69,681,981 New Shares at an average price of €0.594 per share.

Accordingly, a total of 40,318,019 New Shares (including the additional 10,000,000 New Shares which may be issued if the Bank exercises the over-allotment option in full) will be available for subscription by the general public and preferred applicants during the offer period for the IPO.

Further details on the proposed Listing and IPO, including the method of application for New Shares and the timetable for the offer period, will be available in the prospectus to be published by the Bank in connection with the Listing and the IPO, which prospectus will also be subject to regulatory approval.