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Most active stock at SPSE

Geraldine Panapasa
Saturday, January 05, 2013

PARADISE Beverages (Fiji) Limited was the most active stock in terms of quantity and value traded, says South Pacific Stock Exchange chief executive officer Jinita Prasad.

In the stock market report 2012, Ms Prasad said this was because of the execution of the special crossing transaction.

FMF Foods Limited (FMF) was the most active stock in terms of volume and consideration with around $1million in market turnover — excluding all the special crossing transactions of 2012.

"This was followed closely by Fijian Holdings Limited (FHL).

"Market heavyweight Amalgamated Telecom Holdings Limited (ATH) and the supermarket chain, RB Patel Group Limited (RBG) had the third and fourth highest market turnover values respectively," Ms Prasad said.

"Looking at the most active stock in terms of the number of transactions, FHL registered the greatest number of trades — 582.

"This number of trades which is more than five times larger than the second most active security partly resulted from FHL having a market-based dividend re-investment option for its shareholders.

"Excluding the special crossing transactions, five securities witnessed single trades in 2012 — FijiCare Insurance Limited (FIL), Pleass Global Limited (PBP), Pacific Green Industries (Fiji) Limited (PGI), The Rice Company of Fiji Limited (RCF) and Toyota Tsusho (South Sea) Limited (TTS)."

Meanwhile, Ms Prasad said economic stagnation continued last year with global trends affecting the domestic economy as the Reserve Bank revised its projected growth for Fiji downward from 2.7 per cent to 2.5 per cent.

"As in other capital markets, SPSE trading statistics showed greater optimism for the future — the overall capitalisation of the market rose 9.71 per cent and our total return index, STRI, increased 14.07 per cent," she said.

She said the year-end market capitalisation stood at $816.25million reflecting an increase in share prices of 10 out of the 18 listed securities.


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