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Kontiki Finance Lists On The South Pacific Stock Exchange

Kontiki Finance Lists On The  South Pacific Stock Exchange
Kontiki Finance Limited board chairperson Daryl Tarte is presented with the listing certificate by the South Pacific Stock Exchange board chairperson Nur Bano Ali (right) during the launch of Kontiki Finance Limited on the South Pacific Stock Exchange on July 4, 2018. Photo: Mohammed Zulfikar
July 05
14:54 2018

The official listing ceremony of Kontiki Finance Limited (KFL) to the South Pacific Stock Exchange (SPSE) was held at the Grand Pacific Hotel yesterday.

It was a milestone achievement for Kontiki Company as it was the first finance company to be listed at the SPSE.

Kontiki Company board chairperson Daryl Tarte said they are tremendously excited to give Fijian investors the opportunity to share in our growth and success.

“Our team has brought a much more friendly, professional and customer focused on financing in Fiji and the Fiji public and the business community have responded,” Mr Tarte said.

“Our senior team’s experience in this sector is second to none and we expect our strong growth to continue in the future.”

Since opening its doors to customers in March 2015 and offices in Suva, Lautoka and Labasa, Kontiki Finance has shown a strong willingness to support the communities in which it does business.

They have involved themselves with the community so that a wide range of customers can be part of their success. Kontiki Finance has partnered with Police football and netball team, lawn bowls, the Fiji Surfing Association, the Queen Victoria Old Boys rugby team and WOWs kids.

Extension of SPSE

SPSE board chairperson Nur Bano Ali said it was  unique and exciting to have KFL listed on the main board of SPSE.

“Today’s (yesterday) listing adds a unique company to our official list and also marks the extension of the SPSE’s and the capital market sectorial representation by including the first company from the finance sector,” Ms Ali said.

“The total market capitalisation with Kontiki Finance listing now stands at $2.47 billion; representing 27 per cent to GDP.”

She said it was a timely listing as Kontiki Finance are in the midst of the inaugural capital markets week organised by the industry regulator, Reserve bank of Fiji.

Welcome Addition

SPSE chief executive officer Krishika Narayan said Kontiki Finance is a welcome addition to the exchange.

“The listing of Kontiki Finance marks the extension of the SPSE’s and the capital market’s sectorial representation by including the first company from the finance sector,” Ms Narayan said.

She said SPSE believes this listing heralds a new era of business operations for Kontiki Finance and will strengthen the entity’s corporate reputation and visibility and should assist in further unlocking the value of the company.

2020 World Exchange Congress

Ms Ali also acknowledged the support of the Fijian Government through the various lucrative tax incentives for Fiji’s stock market.

“In addition to the tax incentives, the Fijian Government has also announced in the 2018/2019 budget that SPSE will host the 2020 World Exchange Congress in Fiji.” Ms Ali said.

She said the World Exchange Congress is an event that will attract around 500 delegates from across 60 countries with specialist from all different sized stock exchanges around the world, from tier-one, mid-tier to frontier markets.

Ms Ali is also urging other companies that are out there to consider listing on SPSE to reap the many benefits that are available.

Mr Tarte was also presented with a listing certificate by Ms Ali and Mr Tarte rang the bell to open yesterday’s share trading.

Feedback:  mohammed.zulfikar@fijisun.com.fj

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