The South Pacific Stock Exchange (SPX) achieved a remarkable milestone in 2024, as the 16 listed entities paid out an unprecedented $76 million in dividends. This figure represents the highest annual dividend payout in the exchange’s history, bringing the total cumulative dividends since 2000 to over FJD1 billion.
This significant accomplishment was complemented by the SPX’s first equity listing since 2019, with SUN Insurance Company Limited (SUN) successfully entering the market. The Initial Public Offering (IPO) for SUN attracted considerable attention, signaling robust demand for new listings and demonstrating the market’s capacity to support future IPOs.
Further demonstrating the confidence investors have in the market, several SPX-listed entities introduced dividend reinvestment plans, which were well-received by shareholders. SPX Chief Executive Sheraj Obeyesekere highlighted that the performance of the market in 2024 is a positive sign of future opportunities for the Fijian stock market. He emphasized that the dual benefits of share price growth alongside record dividends showcase the significant value the market holds for investors.
While trading activity in Fiji remains relatively limited compared to other more dynamic stock markets, the trends observed in 2024 indicate an encouraging increase in participant engagement. Obeyesekere noted a growing interest among investors in trading and investment opportunities, which is a hopeful sign for the future.
Looking towards 2025, there is a strong optimism for continued progress in the Fijian stock market. The CEO welcomed more companies to consider listing on the exchange, underlining the readiness of investors to support companies with promising growth prospects.
This compelling narrative underscores the resilience and potential of the Fijian stock market, illustrating a community of investors eager to engage and participate actively. As more companies explore the opportunities that come with being listed, the SPX aims to facilitate and support their journey, paving the way for greater investment in the region.
In summary, 2024 proved to be a landmark year for the SPX, highlighting increasing investor confidence, successful new listings, and an encouraging dividend payout history, all of which serve to strengthen the Fijian stock market’s future.
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