Two to three organizations are anticipated to join the securities exchange in the coming year, building on the momentum generated by the successful listing of SUN Insurance. The South Pacific Stock Exchange (SPX) is also set to revise its listing rules to facilitate capital raising opportunities.
SPX Chief Executive Officer Sheraj Obeyesekere noted that SUN Insurance’s initial public offering (IPO), which was oversubscribed, has sparked increased interest among investors in share investments since 2019. “After the SUN listing, several corporates have expressed their intent to list, indicating a healthy growth in the market,” he remarked, adding that while there have been no formal applications yet, companies are actively preparing for potential listings.
To support this anticipated growth, SPX plans to launch a public awareness campaign focusing on share investments, responding to the increasing demand for responsible and regulated investment options. Mr. Obeyesekere stated, “We are aiming to position share investments as a primary choice for the public.” Additionally, he confirmed that the review of listing rules will be implemented in 2025 to allow a broader range of companies to raise capital through the stock market, with stakeholder input ensuring the adjustments benefit the Fijian market while adhering to fundamental stock market principles.
In efforts to enhance its international presence, SPX will participate in the World Federation of Exchanges Annual Meeting in Malaysia this month. Mr. Obeyesekere highlighted plans to forge memorandums of understanding with various exchanges to leverage technical expertise and collaborative growth.
Overall, these developments signify a promising future for the South Pacific Stock Exchange, fostering a richer investment landscape and encouraging more companies to enter the market. The proactive measures taken by SPX could ultimately create a more diversified and resilient financial environment in Fiji.
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