CPL stock trading resumes

By Shirley Mauludu
THE trading of City Pharmacy Ltd shares on the Port Moresby Stock Exchange (POMSoX) resumed yesterday.
POMSoX general manager Karen Aisoli in a market release yesterday said POMSoX effectively reinstated the quotation of securities for CPL shares from suspension on POMSoX list.
A trading halt was imposed on CPL shares on June 19 following a fire which gutted the company warehouse and head office in Gerehu, Port Moresby, the previous night.
“The City Pharmacy Ltd group has advised the Port Moresby Stock Exchange on a satisfactory assessment of its business operations during the term of the trading halt and sees fit for its normal business activities to continue,” Aisoli said.
“Normal trading of the City Pharmacy Ltd’s shares on the POMSoX list is guaranteed.”
CPL halted the trading of its shares while it assessed the damage to its business operations. Managing director Joe Barberis yesterday told The National that the company’s businesses were now fully functioning.
“All our stores are now operating,” Barberis said.
“Goods are now flowing to all our shops. We’ve got minor stock issues but they are not serious.