The South Pacific Stock Exchange (SPX) has witnessed a remarkable achievement in 2024, as 16 listed entities distributed a record-breaking dividend payout of $76 million, marking the highest annual total in the exchange’s history. This impressive milestone brings the cumulative dividends paid by SPX-listed entities since the year 2000 to over FJD1 billion.
Additionally, the year saw the Fijian stock market welcome its first new equity listing in five years, with the SUN Insurance Company Limited successfully launching its Initial Public Offering (IPO). The IPO attracted significant interest, both from institutional investors during the private placement phase and from the general public, signaling strong demand for new listings.
The inclusion of dividend reinvestment plans by SPX entities has also been well-received by shareholders, enhancing investor confidence in the growth potential of these companies. Sheraj Obeyesekere, the CEO of SPX, highlighted that the market’s performance in 2024 showcases promising opportunities for the future of the Fijian stock market. He emphasized that the combination of share price growth and record dividends illustrates the substantial value available to investors.
Despite the current limited trading activity in Fiji, which is primarily steered by institutional investors, the encouraging progress seen in 2024 suggests a rising interest in trading and investment among a broader base of investors. The SPX is committed to leveraging this momentum by increasing public awareness about investment opportunities and improving market accessibility for all Fijians.
Looking ahead to 2025, there is a hopeful outlook for continued positive trends. The recent IPO has reignited interest among potential investors, and the SPX is urging more Fijian companies to consider listing on the exchange, reassuring them of the support available to ensure a smooth listing process.
Overall, with a surge in dividends and renewed investor interest, the Fijian stock market seems to be entering a vibrant phase that could lead to further growth and investment opportunities in the near future.
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