AROM Holdings Limited – owned by the Archdiocese of Malta – and the Diocese of Gozo are set to see their stakes in APS diluted as the bank announces plans to raise approximately €45 million in new equity through a Rights Issue. 

AROM Holdings Limited and the Diocese of Gozo currently hold 54.67 per cent and 12.52 per cent of the bank’s issued share capital respectively.

They are not expected to subscribe to their rights in any material way. As a result, their ownership will be diluted, with AROM Holdings likely to fall below the 50 per cent threshold.

This move follows the trend set during the bank’s 2022 Initial Public Offering (IPO), when the two qualifying shareholders began reducing their concentration, opening the way for over 3,300 new shareholders and a free float of about 30 per cent.

Despite the dilution, both Church entities remain supportive of APS Bank’s strategic growth plans.

APS said that it is already engaging with institutional investors, financial intermediaries and existing shareholders to take up the rights expected to lapse from these two large shareholders.

Interested parties with a minimum investment of €500,000 have until 22nd September 2025 – just one week away – to express their interest.

The Rights Issue forms part of APS Bank’s broader strategy to strengthen its capital base in line with regulatory requirements while fuelling growth both organically and through acquisitions.

The bank is currently in the advanced stages of obtaining regulatory approval from the Malta Financial Services Authority, with the prospectus expected to be published in the second half of October.

The Rights Issue process, including the listing of new ordinary shares, is expected to be completed by the end of 2025.