BSP’s dual-listing will open up the company’s register to Australian investors and boost the liquidity of its shares.
Chairman Sir Kostas Constantinou, announced that the ASX had approved BSP’s application for listing and that BSP officially joined the ASX on Tuesday 25 May 2021.
At a virtual ringing of the bell ceremony in Port Moresby with CEO Robin Fleming and Company Secretary Mary Johns, Sir Kostas said BSP had been listed on the PNGX since 2003, but the board had determined 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.
He said the compliance listing does not involve any public offering of shares.
BSP will now be listed on the PNGX and the ASX, which means that shareholders will be able to buy and sell shares on both the ASX and PNGX.
Sir Kostas said as a result of the dual listing BSP will have access to alternative source capital to fund its future growth ambitions, deliver improved services to customers and enhance existing shareholder liquidity.
Photo credit: BSP Financial Group