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CEO Expresses Optimism in the Stock Market

by PNG Business News - July 15, 2021

Photo Credit: Bank South Pacific

According to firm chief executive officer Robin Fleming, interest in BSP Financial Group Ltd (BSP) shares on the Australian Securities Exchange (ASX) is strong, with the current bid price of AU$5 (K6.6).

Fleming said there were some compliance obligations that shareholders needed to fulfill when BSP got listed on the ASX last month.

Obtaining a tax clearance certificate is one of them since it is required to support the application to transfer shares from the PNGX to the ASX.

Some of the stockholders had completed the move, according to Fleming.

“A couple of our smaller shareholders have completed the migration to ASX and are in the process of completing their first trades, and BSP’s first transactions on the ASX,” Fleming said.

“We are eagerly awaiting the settlement of the first sell and buy trades on ASX.

“A larger shareholder is also going through their various approval processes.

“Interest in BSP shares is positive and the bid price is

AU$5 but it is only after the first trades are performed that the actual price will be determined

and the price is expected to

fluctuate in the first months of trade.”

BSP has been listed on the PNGX since 2003, according to group chairman Sir Kostas Constantinou, who spoke at a virtual ringing of the bell event in Port Moresby last month to celebrate the company's registration on ASX.

However, the board concluded last year that a listing on the ASX would benefit shareholders by providing them with access to a far more liquid market, as well as provide BSP with additional sources of cash to support any future growth.

 

Reference:

Mauludu, Shirley. The National (12 July 2021). “Positive interest in shares: CEO”.



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