112 new investors enter SPSE
February 20, 2019 4:12 pm
Business Development Manager, Pretesh Prasad
112 new investors entered the South Pacific Stock Exchange from mid-January to February.
Business Development Manager, Pretesh Prasad says 93 percent of the new investors are primarily noted for the Fijian Holdings Limited shares.
Prasad adds the increase in activity for the FHL Shares is due to the adoption of the share-split process of shares.
“Share-split process was undertaken by FHL at the beginning of this year. What this means is that the last traded price of a listed company is adjusted by the ratio of the share split. In FHL’s case, they did a 1:10 share split. What this meant is that the last price of $8.50 was re-list to 85cents and the number of shares on the issue was multiplied by 10.”
Prasad says this move by FHL has attracted more investment and trade into its stock.
Eight new investors bought stocks in the other 19 listed companies.