Positive interest in shares: CEO

By SHIRLEY MAULUDU
INTEREST in BSP Financial Group Ltd (BSP) shares on the Australian Securities Exchange (ASX) is positive with the current bid price at AU$5 (K6.6), according to group chief executive officer Robin Fleming.
At the time when BSP became listed on the ASX last month, Fleming said there were some compliance requirements that shareholders needed to meet.
These include the need to obtain a tax clearance certificate – to support the application to move shares from PNGX to ASX.
Fleming told The National
on Friday that some of the shareholders had completed the migration.
“A couple of our smaller shareholders have completed the migration to ASX and are in the process of completing their first trades, and BSP’s first transactions on the ASX,” Fleming said.
“We are eagerly awaiting the settlement of the first sell and buy trades on ASX.
“A larger shareholder is also going through their various approval processes.
“Interest in BSP shares is positive and the bid price is
AU$5 but it is only after the first trades are performed that the actual price will be determined
and the price is expected to
fluctuate in the first months of trade.”
At a virtual ringing of the bell ceremony in Port Moresby last month to mark BSP’s listing on ASX, group chairman Sir Kostas Constantinou said that BSP had been listed on the PNGX since 2003.
But the board decided last year that a listing on the ASX would benefit shareholders by giving them access to a far more liquid market and also give BSP potential new sources of capital to fund any future strategic growth opportunities.