THhe President of the Republic of Fiji Ratu Wiliame Katonivere rang the ceremonial Opening Bell of the South Pacific Stock Exchange (SPX) to open trading on Thursday to mark the official listing of Sun Insurance Company Ltd (SUN) on the SPX main board.
Recognising new listings by ringing the Opening Bell is a cherished tradition in the stock exchange industry around the world, SPX said in a statement.
The official listing of SUN on SPX follows a successful Initial Public Offering of seven million shares by the company which received a strong response from the investment community, resulting in an oversubscription.
About 120 million Ordinary Shares of SUN have been listed on SPX and can now be traded in the secondary market by investors under the ticker symbol SUN.
Commenting on the listing of SUN, chairperson of the SPX Nitin Gandhi staking the bold step to enter the public markets reflected the company’s vision for growth and transparency.
“The listing of Sun Insurance marks an important milestone for the SPX, bringing our total equity listings to 20. We are optimistic that this will be the first of many new listings in the coming months.
“As a newly listed company, Sun Insurance is now entrusted with the responsibility of creating and delivering long-term shareholder value. This goes beyond financial returns—it involves building a sustainable business that prioritizes transparency, ethical governance, and strategic growth.”
Mr Gandhi said the listing of Sun Insurance is set to increase the SPX market capitalisation by approximately four per cent, adding valuable depth to the stock market. Further, the listing enhances representation of the insurance industry on the SPX, which is crucial in offering investors a diverse range of investment opportunities.
Mr Gandhi encouraged more private companies in Fiji to consider listing on the exchange.
