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MW 15 March 2017

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WWW.MALTATODAY.COM.MT WEDNESDAY EDITION €1.00 Newspaper post PAGE 7 PAGE 9 • Editorial WEDNESDAY • 15 March 2017 • issue 513 • published every wednesday and sunday PAGE 4 Konrad Mizzi stunned by 'pig mask' protest at Gvern Li Jisma' meeting PAGE 2 Retail giant PG Group plans €25 million shares issue PG Group, which among others owns the PAVI and PAMA supermarkets, and Zara, to dispose of 25% of company shareholding JURGEN BALZAN PG Group, owners of the suc- cessful PAVI and PAMA super- markets, is to be listed on the stock exchange as it is seeking to dispose of 25% of the company, which is valued at over €100 mil- lion. The group will be seeking to sell some 25 million shares through stockbrokers, to be offered to the public for €1 per share. It hopes to sell the shares immediately, anticipating the planned bond issues to be offered by hotel op- erators DB Group and Eden Lei- sure in the coming weeks. An analyst told MaltaToday that if the initial public offering (IPO) proves successful it would once again show that the public has greater trust in the private sector than in government in- vestments. "If the IPO is taken up by the public it will show that the peo- ple trust the private sector more than it trusts the government, especially after the latest issue of government bonds was not taken up," the analyst said. This is the first major IPO since MIDI listed the Tigne Point shopping mall in 2013. However, PG Group had previ- ously offered bond issues for their f lagship retail outlet Zara in 2002 and more recently in 2007 for the Qormi supermarket PAVI. Zara, PAVI and the PAMA shopping village in Mosta, cash generators by their very nature, are at the heart of the company's wider operations. PAVI handles 35,000 customers a week while the newer PAMA gets 50,000 customers a week. Among others, the compa- ny's majority shareholder, Paul Gauci, has investments in Banif Bank Malta, the five-star Westin Dragonara Resort, Pablo Proper- ties and marine support and sup- plier company Polaris Marine. No love lost between contenders for MUT top job PAUL COCKS THE race for the top post at the Malta Union of Teachers is heating up, and with only three weeks to go to the ballot, MaltaToday has learned there is no love lost between the two top contenders who were involved in a heated argument. MUT president Kevin Bonello, at the helm since 2011, announced at the end of February that he would not be seeking re-election for a third term due to health reasons. The union's senior vice-president, Marco Bonnici, and the general secretary Franklin Barbara, imme- diately announced their intention to contest the election slated for the beginning of April. Barbara has been general secretary since 2007. But tensions are already beginning to rise, it would seem. PHOTOGRAPHY BY: JAMES BIANCHI

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