Port Denarau Marine lists on SPX
11 July, 2019, 9:21 pm
PORT Denarau Marina Ltd has grown over the years built on strong board and management team with a track record of success, and decades of collective industry and business experience gained in Fiji and abroad, says David Skeggs, director Skeggs Group Ltd and chairman Port Denarau Marina Ltd.
“This has allowed us to build a business that is profitable and very robust, one with an international reputation for excellence. We now wish to share our success with the Fiji public, through a listing on the South Pacific Stock Exchange.”
A statement from the company said since the purchase of the marina assets by Skeggs Group Ltd in 1999, PDML had been at the forefront of Fiji’s largest industry, tourism and in its most recent financial year, PDML’s Marina on Denarau Island saw about 495,000 tourists, representing more than 54 per cent of Fiji’s annual tourist numbers, transiting through the facility.
It said the marina had 30 foreign cruise ships visit and welcomed more than 400 yachts and 56 Superyachts to our facilities whereby those numbers had grown steadily over the years and was set to continue on this trend, reflecting the strength of Fiji tourism as well as the importance of Denarau Island, and the Marina in particular, as the “gateway” for marine tourism.
Mr Skeggs said in addition, being listed on SPSE would provide PDML with the opportunity to further align interests between the existing shareholder and strategic investors.
“Being listed will also give PDML the flexibility to raise capital by issuing further shares to fund future expansion plans,” said Mr Skeggs.