Sun Insurance Company Limited, newly listed on the stock market, is offering a subsidy to investors by covering trading fees for transactions involving up to 20,000 shares per shareholder identification number during a limited promotional period. According to chairman Padam Lala, the subsidy will apply to multiple trades until the cumulative total reaches 20,000 shares per identification number. This initiative, developed in consultation with the South Pacific Stock Exchange (SPX), aims to boost market participation.
Lala stated that SUN will directly cover all trading fees and broker commissions, meaning buyers and sellers will not face any transaction costs during the promotional period. This program is intended to enhance investor engagement and increase market liquidity, allowing traders to invest in Sun Insurance shares without incurring additional expenses.
The subsidy initiative was announced on Friday and is effective from August 19 until September 27. Lala also mentioned that the company reserves the right to end the promotion early, with a three-day notice to be provided.
Last Thursday, SUN Insurance added a total of 120 million shares to the SPX board, becoming the 20th security to be listed on the exchange after a five-year hiatus, thereby offering more investment options to the public in Fiji.