SPSE notes share trading improvement

The Fiji-based South Pacific Stock Exchange (SPSE) has noted an improvement in share trading last week recording 70,321 shares traded in 19 transactions.

Total consideration for these shares reached $121,855 compared to $8717 reached for the previous week, the SPSE reported.

In its trading summary for the week ended August 8, SPSE chief executive Jinita Prasad added a total of four securities traded during the week compared to one the previous week.

She said the overall capitalisation of the market rose by 0.45 per cent closing the week at $923,772,243, compared to $919,655,841 the previous week.

“Rise in share price of the telecommunications giant, Amalgamated Telecom Holdings Limited (ATH) by 0.93 per cent led to this appreciation in the overall market capitalisation,” Prasad said.

She said ATH was the only stock to have witnessed an appreciation in its share price.

“The security traded in three transactions with a quantity of 7271 shares raking in a total consideration of $7853,” Prasad explained.

“The stock closed the week at $1.08, one cent above the opening share price with best bid and offer placed at $1.07 and $1.10 respectively,” she said.

Prasad also revealed that local investment company Fijian Holdings Limited (FHL) traded a total volume of 12,080 shares in ten transactions, shedding one cent to close the week at $2.16.

She said the stock has best bid placed at $2 and best offer being placed at $2.16.

RB Patel Group Limited (RBG) stock, on the other hand, witnessed 50,000 shares trading at the current market price of $1.70 yielding an aggregate consideration of $85,000 in five transactions.

VB Holdings Limited (VBL) traded in a single transaction after a lapse of three months with 970 shares gathering a total consideration of $2910.

“Foster’s Group Pacific Limited (FGP) still ranks as the widest bid-offer margin stock while ATH poses as the narrowest bid-offer margin stock.