Sun Insurance Company Limited (SUN), recently listed on the stock market, is set to subsidize trading fees for investors involved in trades of up to 20,000 shares per shareholder identification number (SIN) for a limited time. According to SUN chairman Padam Lala, as stated in a release from the South Pacific Stock Exchange (SPX), this subsidy applies to multiple transactions until the total share volume reaches the specified limit.
Lala expressed that this initiative was developed in collaboration with the SPX to stimulate increased participation in the market. He noted that SUN will take care of all trading fees and broker commissions, ensuring that neither buyers nor sellers will face any transaction costs.
“This initiative aims to boost investor involvement and improve market liquidity, providing a unique chance for traders to invest in Sun Insurance shares without incurring transaction costs during this promotional phase,” Lala explained.
He also indicated that the company retains the right to close this offer earlier than planned, with a three-day notice to be provided prior to any closure. The subsidy, which was announced last Friday, will be available from August 19 to September 27.
Last Thursday, SUN Insurance added 120 million shares to the SPX board, marking it as the 20th security to be listed on the exchange after a five-year hiatus, thus offering another investment opportunity for the public in Fiji.