Tigné Mall plc, which owns and operated The Point Shopping Mall, has announced a change in its ownership, with HSBC Bank Malta, as custodian for HSBC Life Assurance (Malta), sold its 12.81 per cent stake in the Sliema complex to Marsamxett Properties Ltd.

Marsamxett Properties Ltd is a fully owned subsidiary of Hili Ventures Ltd.

In a notice posted to the Malta Stock Exchange on Monday, Tigné Mall stated that the transaction of 7,227,000 ordinary shares from HSBC to Hili was made on 5th October.

The shares carry the same number of voting rights.

The stock price has remained level since the announcement, standing at €0.82 per share – unchanged since 11th August.

At market price, the transaction between HSBC and Hili is worth just shy of €6 million.

Hili Ventures Ltd is now the third largest shareholder in Tigné Mall, which registered profit before tax of €4.8 million during 2022.

MAPFRE MSV Life plc is the largest shareholder, with a 35.46 per cent stake in the company. BOV has a 16.71 per cent shareholding.

All other shareholders own less than five per cent of all shares, and therefore do not need to be publicly disclosed.

Developed by MIDI as part of its concession to develop the Tigné peninsula and Manoeal Island, Tigné Mall was sold by the development company in 2013 in a transaction estimated at around €20 million at the time.