Sun Insurance Company Limited (SUN), which recently went public, is offering to cover trading fees for its investors on transactions involving up to 20,000 shares per shareholder identification number (SIN) for a limited time.
The company’s chairman, Padam Lala, stated that this subsidy includes trading fees for various trades until the total volume of shares traded reaches 20,000 per SIN during the specified period. This initiative was developed in collaboration with the South Pacific Stock Exchange (SPX) to boost market participation.
Lala explained that SUN will directly pay all trading fees and broker commissions, ensuring that neither buyers nor sellers will face transaction costs. This promotional effort aims to enhance investor involvement and improve market liquidity, allowing traders to purchase SUN shares without incurring expenses for a limited time.
The company reserves the right to end this offer earlier than planned and will provide a three-day notice before doing so. This incentive, announced last Friday, is effective from August 19 until September 27.
SUN Insurance’s shares were added to the SPX board last Thursday, marking its entry as the 20th security listed on the exchange, thus ending a five-year hiatus and offering new investment opportunities for Fiji’s public.