Bankers at UBS met with fund managers in the past fortnight, testing their appetite for a dual listing of the financial operation in Australia, in addition to the Port Moresby stock exchange, where it is already listed.
The bank — one of the largest listed on the Port Moresby Exchange — has more deposits than loans because of the limited corporate field to lend to in Papua New Guinea, according to sources.
There are a number of economic headwinds in PNG — its biggest market — with inflation running at 6 or 7 per cent, while currency risk remains a factor.