PNGX aims to develop new products

THE PNG Stock Exchange (PNGX) is working to develop new products and services for investors, says chairman David Lawrence.
Lawrence said PNGX had seen growth in the level of interest for investing in the market from local retail investors and new companies, but there was a long lead time for that to occur.
“Behind the scenes, PNGX is working very hard to develop the market with new products and services for investors and companies of all sizes,” Lawrence told The National.
“We hope to roll out new products and services in 2022.
“As with any market, liquidity attracts investors and new companies, investors attract liquidity and new companies, and new companies attract investors and liquidity.
“A market needs to see growth in all three, but achieving that growth takes a long time or needs a catalyst to accelerate the process.
“We are hopeful that current growth in the level of interest in the market will translate into growth in the momentum of new investors bringing liquidity to the market.
“Once that occurs, more companies will be attracted.”
Lawrence added that PNGX provided the infrastructure for the market while stockbrokers provided advice to clients and placed their orders on the market.