Two to three organizations are anticipated to list on the securities exchange next year, following the successful public offering of SUN Insurance. This momentum has led to plans to review the listing rules to facilitate capital raising through the South Pacific Stock Exchange (SPX).
According to SPX’s CEO, Sheraj Obeyesekere, the enthusiasm among investors for share investments has been revitalized since SUN Insurance’s initial public offering (IPO) in 2019, which was notably oversubscribed. While no formal applications from companies have been received yet, several are reportedly taking steps to prepare for potential listings.
To foster this expected growth, SPX is set to launch a public awareness campaign aimed at promoting share investments among the public. Mr. Obeyesekere emphasized the increasing demand for responsible and regulated investment options, positioning share investments as a preferred choice. The review of listing rules in 2025 aims to broaden the scope of companies that can raise capital through the stock market, with an emphasis on collaboration with stakeholders to ensure regulations align with the unique needs of the Fijian market while still adhering to stock market principles.
Additionally, SPX is working to strengthen its international presence. This month, the exchange will participate in the World Federation of Exchanges Annual Meeting in Malaysia and aims to establish memoranda of understanding with other exchanges for technical expertise and knowledge sharing.
This positive development points to a budding interest in the stock market among Fijian companies and investors alike, potentially leading to a more robust financial landscape in the region. The combination of increased corporate participation and enhanced regulatory frameworks could pave the way for a thriving investment environment in the coming years.
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