VBL Group on Monday announced that it is reviewing a number of strategic options to develop itself further and work towards continuous expansion within its core market.
The group is focused on activities and operations in Valletta, its sole market of operation, primarily being involved in the full process of real estate acquisition, integrated real estate development, property management, operations, utilisation, and the occasional disposal of non-strategic properties. VBL Group stated that it has delivered “substantial growth of its assets and expansion on its core market”, including a number of landmark property acquisitions and developments, such as the Coliseum Building last November.
The group's principal company, VBL plc, listed all of its shares on the Malta Stock Exchange in 2021, and since the initial public offering (IPO), it states that it has continued to “implement its declared expansion and growth strategy” according to its original plans in 2021. At the time of the IPO, shareholders holding 10 per cent or more of the shares under opted not to transfer their shares for a period of 24 months from the date of listing.
Its decision to evaluate various strategic options for its future comes as it focuses to further develop the group, achieve improved performances in the future, as well as make strides towards continuous expansion in its core market.
As a result, it is considering a range of options, such as the possibility of raising further capital from strategic or financial investors, or by carrying out equity transactions, including possibilities that might prompt changes to the shareholding structure. The group stated that it will start discussions with local and international advisors to “map out potential opportunities”.
Through this process, it will “explore and perform a comprehensive evaluation of strategic options and initiatives to unlock and maximise shareholder value going forward,” it added.
VBL Group stated that no decision has been made with regards to the selection of options, and there is no certainty if and when such decisions will be made.
