Exchange focuses on SME interest

The Papua New Guinea Stock Exchange (PNGX) is looking at developing new markets to meet the needs of small and medium sized companies, says executive chairman David Lawrence.
Lawrence said while the PNG market is small, it has enormous potential, with an increasing interest in “mums and dads”.
“There are a lot of companies in PNG — the growing retailer base, more mums and dads becoming interested in the market so we’re starting to see that part of the market grow,” he said.
“What’s largely driving that is you get better returns in money in the stock market instead of putting money in bank.
“The market in PNG is very small and dominated by Bank South Pacific and financial institutions, in the mining and oil and gas we have Santos and Newcrest.
“We’re seeing a lot more investing in the market.
“Generally, the minimum investment is about K2,000 and then pay brokerage of K200 – K300.”