Sun Insurance Company Limited (SUN), recently listed on the South Pacific Stock Exchange (SPX), is offering to subsidize trading fees for investors engaging in trades involving up to 20,000 shares per shareholder identification number (SIN) for a limited time.
SUN Chairman Padam Lala announced that the subsidy will apply to multiple trades until the total volume hits 20,000 shares per SIN during the promotional period. He emphasized that this initiative, developed in collaboration with SPX, aims to boost market participation.
The company will absorb all trading fees and broker commissions, ensuring that neither buyers nor sellers face transaction costs. This initiative is intended to foster greater investor involvement and enhance market liquidity, allowing traders to purchase Sun Insurance shares without incurring any fees until September 27.
Lala also stated that SUN reserves the right to end this incentive early, with a three-day notice provided for such a decision. The promotion commenced on August 19, following the addition of 120 million SUN Insurance shares to the SPX as the 20th security listed on the exchange, marking an end to a five-year drought in listings and expanding investment options for the public in Fiji.