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Illustration of Share market grew to $3.65b in 2024

Fiji’s Stock Market Soars: A $3.65 Billion Milestone

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In 2024, the South Pacific Stock Exchange (SPX) achieved significant growth, with the total value of its listed companies surpassing $3.65 billion by the end of December. This marks a growth of approximately $321 million, or 9.61%, compared to the previous year, indicative of rising awareness and participation among Fijian investors.

Sheraj Obeyesekere, the CEO of SPX, highlighted that the stock market had notable accomplishments throughout the year, including the highest annual trading value since 2019, reaching $37.3 million. Moreover, the number of trades executed in 2024 set a new record, reflecting an unprecedented level of market activity. A significant influx of new investors was recorded, the largest since the pandemic began, showcasing a revitalized confidence in the investment landscape.

The SPX also celebrated the reintroduction of equity listings with the successful Initial Public Offering (IPO) of SUN Insurance Company Ltd, marking the first new listing since 2019. The IPO not only garnered substantial interest during its private placement but also among the public, emphasizing robust demand for such opportunities in the market.

2024 was also remarkable for dividend payouts, with SPX-listed entities disbursing a total of $76 million in dividends, the highest in the exchange’s history. This milestone pushed the cumulative dividends since 2000 to over $1 billion. Furthermore, 16 entities announced dividend reinvestment plans, indicating strong shareholder engagement.

Looking forward to 2025, there is considerable optimism for the Fijian stock market’s continued progress. Increased investor interest, successful new listings, and record dividend payouts foster a positive environment for potential future growth. SPX aims to enhance public awareness of investment opportunities and invites more companies to explore listing on the exchange, reinforcing the enthusiasm for investment in Fiji.

The developments in the Fijian stock market reflect a promising future, with a community eager for engagement. The growing interest among investors, alongside the SPX’s efforts to create a more inclusive market environment, paves the way for greater investment opportunities in the region, ultimately supporting economic development.


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