The combined shares of the sixteen companies listed on the South Pacific Stock exchange stands at around $887 million, reflecting the stable financial position of the publically listed companies.
South Pacific Stock Exchange CEO Jinita Prasad said with Bank of South Pacific being listed on the stock exchange, it has seen the overall market capitalization increase by 1.81%.
Prasad said Amalgamated Telecom Holdings Limited remained the major company on the stock exchange in Fiji holding 50 percent of the market capital.
Bank of South Pacific has been listed as BSP Convertible Notes Limited, and the note is the first of its kind to be listed in Fiji and has a three year term with a fixed return of 7% per annum for the next three years.
Through offering these notes, BSP has been able to raise $16.9 million.
Prasad explains that this means BSP has agreed to pay those holding the convertible notes 7% return per annum even if the company does not record profits through its operations in Fiji.
Market capitalization increase by 1.81%-SPSE
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