PNGX announces new stockbroker

PNGX, Papua New Guinea’s national stock exchange, announced that it has recognised JMP Securities Limited as a new participating organisation.

JMP Securities Limited (JMP) was recognised as a new participating organisation, also known as a stockbroker, on 28 September 2020. JMP commenced trading on PNGX on 6 October 2020.

PNGX Chairman, David Lawrence, said: “PNGX is very pleased to have JMP Securities joining the market as a new stockbroker. It reflects confidence in the growth opportunities presented by PNG and the investment opportunities available to PNG investors.

“We look forwards to JMP stimulating the growth of the current equities market and supporting the development of proposed government and corporate debt and managed funds markets.

“Access to capital for PNG companies is going to be important for the emergence of PNG from the economic circumstances caused by Covid-19 and PNGX and its stockbrokers will be central to that process.”

JMP’s Managing Director, Lars Mortensen, said: “We are very excited to join PNGX as a participating organisation and grateful for the confidence that PNGX has shown in us. 

“Our team is deeply committed to playing an active role in the ongoing growth and development of capital markets in Papua New Guinea and we recognise the solid foundations laid by PNGX and the other market participants to date. 

“Providing companies with access to capital and investors with efficient and secure investment opportunities is an important catalyst for ongoing economic growth, improved development outcomes and enhanced financial security and wellbeing for Papua New Guineans.

“PNGX has a very important role in achieving these goals in the coming years and decades.

“We look forward to working with the exchange, investors and issuers of securities and to being a participant in what will be a tremendously exciting period for capital markets in Papua New Guinea.”

(PNGX Chairman, David Lawrence)

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