Port Denarau listed on South Pacific Stock Exchange

Port Denarau Marina Ltd (PDM) managing director Nigel Skeggs with SPX chairperson Dr Nur Bano Ali at the Grand Pacific Hotel today to mark the official listing of the company on the South Pacific Stock Exchange. Picture: MONIKA SINGH

PORT Denarau Marina Ltd (PDM) today becomes the first company from the tourism industry to list on the South Pacific Stock Exchange (SPX).

SPX chairperson Dr Nur Bano Ali said with PDM being the newest listed entity, SPX would now encompass a total of 21 entities representing 11 sectors of the economy.

“The total market capitalisation with PDM listing now stands at $3.64 billion, representing slightly above 37 per cent of the GDP,” she said.

Dr Ali said a listed company enjoyed a higher status in corporate disclosure and this would give it more respect and credibility as they are helped to good governance and higher levels of integrity and trust.

She encouraged other companies to consider listing on SPX to reap the many benefits available.

PDM will be listing 40million ordinary shares at an initial price of $1.31.

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