Listing on the Stock Exchange

In Malta at the end of 2009, we had some 48,520 companies and partnerships registered with the Registry of Companies. The number of companies registered in Malta has been rising steadily over the past few years, rising by an average of some 2,800 each year since 2005.

Thus, when one considers that there are only 19 equities listed on the Malta Stock Exchange, it becomes immediately apparent that there is a great disparity between the number of "targets" and the actual "hits". When one further considers that the number of Maltese companies which can be legally defined as "public" account for only a fraction of total registrations, then it becomes clear that the main reason for the lack of listed equity is not the Exchange with its rules and disciplines, but rather the reluctance of our family companies to go public. In fact, once a company actually takes the plunge and goes public, the decision to list is almost regarded as a natural consequence.