Bank of Bermuda shares soared on the Bermuda Stock Exchange yesterday as they resumed trading after a hiatus of almost three months.

The bank's shares have not traded on the local exchange since October 28, 2003 when the bank announced plans for its sale to multinational banking giant HSBC Plc.

But yesterday the Bank's share price jumped $5.50 to close at $44 as 900 of the shares changed hands.

The $44 trading price is a dollar off the $45 per share that investors will receive if the sale is approved by regulators and shareholders, who are set to vote on the deal next month.

The BSX trading price was also more than a dollar off where the shares were trading on the Nasdaq yesterday, closing at $45.05.

The BSX confirmed that the bank shares had traded but could not say why: "We have no idea. Somebody must have wanted to trade locally."

The spokesperson could also not speak to why the shares had traded a dollar off Nasdaq levels.

On Monday, the Bank announced that its net profit for 2003 increased 19 percent to $92.5 million as its fourth quarter net income soared 69 percent to $28.1 million.