Most traded shares
FHL accounts for 44.3pc of total
FIJIAN Holdings Ltd (FHL) accounted for 44.30 per cent of the total number of trades on the stock market trading platform in 2019.
According to South Pacific Stock Exchange (SPX) in terms of number of trades, the restricted security, FHL stood as the most active stock.
The exchange released its trading analysis for 2019 which highlighted that the number of trades for FHL was about two times higher than the second most active security and was underpinned by FHL’s market-based dividend reinvestment option for shareholders, which accounted for 47.36 per cent of all FHL trades.
In its 2019 Stock Market Review, the SPX stated that collectively, while considering all ordinary trades as well as the one-off transactions, the number of trades noted for 2019 stood at 3551 which was a substantial increase of 100.51 per cent in comparison with the same period last year.
The report highlighted that additionally, the total volume and value of trades for the year also recorded substantial increases in comparison with 2018.
It said in aggregate, the total volume traded for 2019 stood at 27,911,775 shares accumulating a total consideration value of $55.6 million.
Meanwhile the exchange noted that Future Forests (Fiji) Ltd (FFF) and Pacific Green Industries (Fiji) Ltd (PGI) were the two listed stocks that did not record any market activity in 2019.
According to the analysis while excluding the one-off transactions for 2019, the number of trades stood at 3544 while the volume and value of shares totalled 14,197,346 and $22.3m respectively with the statistics also standing considerably higher in comparison with the 2018 market statistics.
“Analysing the overall market statistics for 2019 by each security shows that Port Denarau Marina Ltd (PDM) shares dominated the aggregate volume traded by 42.97 per cent while Vision Investments Ltd (VIL) shares dominated the aggregate value traded by 30.71 per cent,” it said.
It was highlighted that the main contributing factor to the high volume traded in PDM shares was because of the execution of a special crossing transaction as well as various other highvolume transactions recorded on the day of listing where the founding shareholder was seen to be partially off-loading its holding to a mixture of other institutional and high net worth investors.
“As for the volume traded, VIL shares stood out as being the most active due to the execution of three special crossing transactions during 2019.
“These special crossing transactions were executed between institutional investors and high net worth individuals.”