Exchange highlights 2021 plans

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Exchange highlights 2021 plans

A new development planned by the South Pacific Stock Exchange (SPX) will certainly increase the multiplicity of listed investible products on SPX and will offer a new platform for businesses wishing to raise capital, says acting CEO Pretesh Prasad.

As part of their 2021 outlook, the SPX expects to launch a market for the issuance of Wholesale Corporate Bonds through the SPX platform within the first half of the year.

According to Mr Prasad this would also offer investors considering fixed income securities an opportunity to participate in the capital market.

The SPX released its 2020 stock market analysis which highlighted that its intention, as a front-line regulator of the stock market, to innovate and strive to improve its services and position the SPX group as a service-driven and operationally excellent organisation.

Meanwhile for the year 2020 the SPX e-trading platform ended the year with eight out of the 20 listed securities recording increased share prices while nine listed stocks recorded a decrease in their share prices, whereas, the share prices remained invariable for three securities during the period under review.

“Given that 45 per cent of the listed entities (9/20) ended in a negative territory in terms of share price returns, the overall average capital growth for 2020 while noting a significant fall from 40.92 per cent (tax-free) in 2019, remained in the positive territory for the 10th consecutive year, well within the long-term average return and concluded at 7.78 per cent (taxfree) in 2020,” stated the report.

However it noted that despite the mixed pattern of returns, 30 per cent of the listed entities (6/20) ended the year at their alltime high share prices where few yielded strong capital gains for its shareholders.

Mr Prasad said the SPX would maintain its engagement with its listed entities, stockbrokers and the investors to ensure timely and balanced disclosures.

“…as well as dissemination of pertinent information to assist investors in making informed investment decisions while also providing access to capital raising and trading/investment platform for the investors and businesses with an aim to ensure efficiency of capital allocation while supporting a broader financial stability,” he said.

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