The South Pacific Stock Exchange (SPX) is poised for growth, anticipating the listing of two to three new organizations in 2025, following the strong performance of SUN Insurance. SPX CEO Sheraj Obeyesekere noted that SUN Insurance’s successful IPO, which saw significant oversubscription, has sparked renewed investor interest in share investments since 2019.
Mr. Obeyesekere mentioned that while no formal applications have been received from potential listing companies, several corporates are currently laying the groundwork for their own listings. To support this anticipated influx of new listings, the SPX plans to implement a public awareness campaign aimed at encouraging responsible and regulated investment in the stock market.
“The demand for regulated investments is growing among the public, and we aspire to make share investments a prominent and appealing option,” Mr. Obeyesekere stated. Furthermore, the SPX will review its listing rules in 2025 to facilitate easier capital raising opportunities for a wider range of companies. Stakeholder consultations will be part of this process to ensure the regulations are both collaborative and suitable for the Fijian market framework.
In addition to these initiatives, the SPX is also focused on enhancing its international profile. Mr. Obeyesekere announced that SPX will participate in the World Federation of Exchanges Annual Meeting in Malaysia later this month. The exchange plans to establish memorandums of understanding with various international exchanges to facilitate knowledge sharing and technical expertise as part of its strategic growth initiatives.
As the SPX prepares for an exciting future with potential new listings and enhanced international collaborations, this signifies a positive trajectory for the financial landscape in the region, showcasing the resilience and adaptability of the investment climate in the South Pacific.
In summary, the SPX is actively working towards increasing its offerings and international presence, aiming to build an attractive and robust investment environment for future investors. This proactive approach may lead to a flourishing stock exchange that benefits both businesses and the broader community.
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