Two to three organizations are anticipated to make their debut on the securities exchange next year, propelled by the success of SUN Insurance. The chief executive officer of the South Pacific Stock Exchange (SPX), Sheraj Obeyesekere, highlighted that the recent listing has sparked renewed interest in share investments, following an upswing seen since 2019.
.Obeyesekere reported that SUN’s initial public offering (IPO) was notably oversubscribed, underscoring its success and setting a positive precedent for future listings. He mentioned that while no formal applications have been received yet, several companies are actively preparing their groundwork for potential listings in 2025.
To encourage these new listings, SPX plans to initiate a public awareness campaign centered on share investments. According to Obeyesekere, there is a growing demand among the public for responsible and regulated investment options, and the exchange aims to position share investments as a primary choice. A review of listing rules is also scheduled for 2025, aimed at facilitating capital raising through the stock market for a broader range of companies. SPX intends to collaborate with stakeholders during this review process to ensure that the regulations are progressive and fit the Fijian market while adhering to standard stock market principles.
In addition to domestic developments, SPX seeks to enhance its international presence. The exchange plans to participate in the upcoming World Federation of Exchanges Annual Meeting in Malaysia. There, SPX hopes to establish memorandums of understanding with other exchanges, which would facilitate technical expertise and knowledge sharing essential for its growth strategy.
Overall, this momentum in the securities market presents an optimistic future for investors and companies alike. As more organizations consider going public and as support structures evolve, the South Pacific Stock Exchange is poised to become a more robust and appealing platform for investment.
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