New World becomes an associate company of Fijian Holdings Ltd
10 July, 2018, 12:00 am
WITH the recent portfolio restructuring within the Fijian Holdings Limited (FHL) Group, New World Ltd (NWL) has become an associate company of FHL.
This was announced today through the South Pacific Stock Exchange.
According to the announcement, the public listed FHL had acquired 15.44 per cent of NWL in early 2000 with a furhter 4.84 per cent NWL was acquired and placed at Fijian Holdings Unit Trust.
“With the consent of all shareholders and clearance from Fiji Commerce and Competition Commission, 4.84 per cent stake was transferred to FHL in June, 2018,” the announcement stated.
With this change, New World Ltd officially becomes an associate company of FHL.
FHL group chief executive officer said the additional NWL shares will increase the dividend revenue to FHL while expanding the investment portfolio.
He said this meant increased value for the stakeholders of FHL.