Hili Ventures has moved to acquire all public shares of its subsidiary Hili Properties, as it seeks to take the company private.

The conditional voluntary public offer of €0.24c per share is open to all shareholders until March 25 – a premium of roughly 5c per share over the company’s current share price.

Hili Ventures already holds 74.83% of Hili Properties’ share capital, with the remaining shares available on the Malta Stock Exchange. The company made its takeover intention public on February 18 and trading of Hili Properties shares was suspended with immediate effect. Shares were trading at €0.193c at the time.

Hili Properties was established in 2012 as a private subsidiary of Hili Ventures but went public three years later. The company issued further shares in 2021.

It owns and manages commercial real estate for lease in several European countries, including Estonia, Latvia, Lithuania, Malta and Romania. Properties range from business centres to shopping centres, healthcare facilities and property housing McDonald’s restaurants in key commercial districts.

Hili Ventures says it wants to consolidate ownership across its investment portfolio to further drive growth and add value to its subisidiary businesses. 

“By securing complete control of its real estate subsidiary, Hili Ventures aims to further optimise its asset management strategy and develop its presence in key markets,” it said in a statement.

Its takeover bid follows a similar move it made, through another of its subsidiaries, to acquire full control of Tigne Mall plc, which owns The Point shopping centre in Sliema.   

Hili Ventures owns multiple subsidiaries in a range of economic sectors across 10 countries employing over 12,500 people in total.

Its public offer of Hili Properties shares open at 8.30am on February 26, 2025 and interested shareholders can lodge their applications with an Authorised Intermediary as of that date.

The Offer Document is available at www.hiliventures.com.