Week in Review
The week under review concluded with the overall capitalisation of the market witnessing an increase of 1.61% ending at a value of $817,170,424. The rise in the market value resulted from share price increases recorded for the market heavy-weight, Amalgamated Telecom Holdings Limited (ATH), Communications Fiji Limited (CFM) and the restricted security, Fijian Holdings Limited (FHL). On an assenting note, CFM saw its share price rise to another all-time high concluding the week at $2.47. RB Patel Group Limited (RBG) continues to trade at its all-time high share price as well being another security to witness trades this week. FijiCare Insurance Limited (FIL) witnessed a special crossing trade whereby 8.56% of FIL issued shares exchanged hands resulting in a substantial shareholding change.
Since the trade got executed via a special crossing the share price for FIL remains unchanged at $0.53. Pacific Green Industries (Fiji) Limited (PGI) also saw a trade with its share price remaining unchanged at $2.00.
The SPSE Total Return Index (STRI) also took an upswing of 1.61%, which at close of trading on Friday stood at 1929.84. The positive price returns from ATH, FHL and CFM led to this ascent. In terms of new order flow for this week, an aggregate consideration of $81,931 was recorded. New orders mostly emerged for FHL, RBG, ATH, CFM, FTV, PGI and BCN. The bid to offer ratio at close of trading on Friday stood at 1:1.
ATH continues to rank as the narrowest bid-offer margin security with a spread of $0.02 with Pleass Global Limited (PBP) still queuing as the widest bid to offer margin security with a spread of $0.35.
On the listed company market announcements platform, seven announcements were recorded. RBG announced the resignation and appointment of Director, Kontiki Growth Fund Limited (KGF) announced the net asset value of the company as at 31st May 2013, PBP declared a final dividend for its shareholders as well as provided an update on its Annual General Meeting. FIL announced a substantial change in its shareholding following the special crossing trade while PGI announced the appointment of a Director. BSP Convertible Notes Limited (BCN) announced the appointment of an Executive Director on BSP board, appointment of BCN Chairperson and also released the presentation from its parent company on its recently held Annual General Meeting. Toyota Tsusho (South Sea) Limited (TTS) concluded the week by announcing changes to its board of Directors as well as appointment of an Acting Chief Executive Officer.
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