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Twenty Listed Companies On Stock Exchange Worth $3.O4bn

The South Pacific Stock Exchange (SPSE) is delighted to announce that the total value of its 20 listed companies during pre-open trading session yesterday has reached an all-time high value
20 Dec 2018 12:22
Twenty Listed  Companies On  Stock Exchange Worth $3.O4bn

The South Pacific Stock Exchange (SPSE) is delighted to announce that the total value of its 20 listed companies during pre-open trading session yesterday has reached an all-time high value of $3,038,355,260 ($3.04 billion).

The overall market value has been on an accumulative trend depicting an average monthly growth of 3.91 per cent over the preceding 12 month period.

It increased further this through the additional quotation of 20,000,000 Fijian Holdings Limited (FHL) shares on the SPSE trading platform at $7.65 per share.

 

Successful 2018

The year 2018 has generally been transformational for SPSE and its fully owned subsidiary, Central Share Registry Limited (CSRL). Also marked by yet another year of increased total market returns backed by greater participation and positive investor sentiments, new listing, historic announcement of SPSE as the host sponsor for the World Exchange Congress to be held in Fiji in May 2020.

Regulatory improvements to enhance ease of doing business and notable addition to CSRL’s client database including the signup of Energy Fiji Limited (EFL).

Additionally, this year has been engaging for SPSE in terms of executing other operational outputs as per SPSE’s three year Strategic Plan.

This included the successful delivery of the 2018 SPSE Annual Awards for a second consecutive year, which is regarded as the signature event for the entire capital market.

This comprehensive event was organised with greater enthusiasm, optimism and passion by the SPSE to further substantiate and corroborate its everyday business operations as a key player in the overall financial markets structure and a significant participant in the capital markets industry in Fiji.

The listing of additional shares for FHL is as per the resolution adopted at FHL’s recent annual general meeting (AGM) held on November 27 whereby the shareholders resolved to list the 20,000,000 shares representing B class shares on the SPSE platform.

It was also resolved at the AGM that the listing of 20,000,000 B class shares will be merged with the issued shares of 10,464,650 A class shares that is already listed on the SPSE platform.

All classification of shares would then be removed and regarded as FHL ordinary shares.

 

Fourth largest listed company

Ultimately, FHL now has 30,464,650 ordinary shares listed on the SPSE platform.

Based on its most recent (30th June, 2018) audited financial statements, FHL’s Price Earnings ratio (PE) now stands at 6.53 times with a dividend yield of 3.19 per cent and market capitalisation of $233,054,573, a growth of 191.12 per cent ($153,000,000) resulting from the additional quotation of 20,000,000 shares.

The earnings per Share (EPS) for the company stands at 117.21 cents.

Following the listing of additional 20,000,000 shares, FHL now becomes the fourth largest listed company on the SPSE by way of market share and accounts for 7.67 per cent of the overall market capitalisation at the opening of m ket this moring.  FHL’s current market price stands at $7.65.

 

Feedback:  maraia.vula@fijisun.com.fj

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