The newly listed Sun Insurance Company Limited (SUN) has announced it will subsidize trading fees for investors trading up to 20,000 shares of SUN per shareholder identification number (SIN) for a limited time.
According to SUN chairman Padam Lala, this subsidy applies to multiple transactions until the total number of shares traded reaches 20,000 per SIN within the promotional period. The initiative was developed in collaboration with the South Pacific Stock Exchange (SPX) to bolster market participation.
Lala stated, “SUN will directly cover all trading fees and broker commissions, which means that neither buyers nor sellers will face any transaction costs.” This program aims to enhance investor interest and improve market liquidity, giving traders a chance to purchase Sun Insurance shares without incurring transaction expenses during this promotional timeframe.
The company has indicated that it retains the right to end this incentive earlier than planned, with a three-day advance notice for traders. This announcement was made last Friday and the program will be active from today, August 19, until September 27.
Last Thursday, a total of 120 million SUN Insurance shares were added to the SPX board, marking the company’s listing as the 20th security on the exchange and ending a five-year hiatus in new listings, thus providing more options for investors in Fiji.