New Era In Fiji's Domestic Capital Market

For investors, interest income earned on corporate bonds traded on the SPX is exempt from withholding tax in the hands of the bondholder.

Thursday 08 December 2022 | 16:50

Frederica Elbourne

Business Editor

From left: Fijian Holdings Limited chief executive officer Jaoji Koroi, Reserve Bank of Fiji Governor Ariff Ali and FHL acting chairman and Permanent Secretary to the Office of the Prime Minister Yogesh Karan at the FHL boardroom on December 7, 2022. Photo: Fijian Holdings Limited

The first-ever wholesale corporate bond traded over the counter through the South Pacific Stock Exchange heralds a new era in Fiji’s domestic capital market, a leading finance leader has said.

But the move is not limited to listed companies only, the stock exchange said, as Fijian Holdings Limited yesterday celebrated its success as a pioneer under the Companies Regulations 2021.

SPX’s acting Chief Executive Officer Pretesh Prasad said unlisted public companies could issue and list a wholesale corporate bond as a standalone security on the South Pacific Stock Exchange (SPX).