More state-owned and private sector companies are set to be listed on the South Pacific Stock Exchange (SPX) this year. Executive director Gaynesh Rueben emphasized that listing on the exchange does not qualify as privatization. He highlighted how the SPX platform persists in offering secure, regulated, and advanced trading platforms.
Despite Government policies impacting the timing of State-owned enterprise listings, Rueben suggested there needed to be more awareness about listing not being equivalent to privatization. The focus remains on product diversification, increasing listed entities, attracting more issuers to the debt market, increasing liquidity, and promoting trading activities.
With good governance, transparency, accountability, and compliance, it intends to advance the exchange. Rueben said that listing offers state-owned enterprises an opportunity to obtain market-based funding for business expansion. Transparency and alignment with industry best practices are improved through this process.
Energy Fiji Limited, currently a trustee limited on the exchange, intends to be admitted to the official list. Once non-voting shares are quoted on the SPX and initial disposal restrictions are lifted, shareholders can sell securities on the SPX.
SPX has made significant progress in facilitating increased participation from local, institutional, retail, and foreign investors, Rueben said, pledging to continue these efforts. The exchange also disclosed its impartial stance for necessary sanctions and enforcement actions, prioritizing orderly trading for the best interest of the market.