Port Denarau Marina Limited announces that the company officially listed on the South Pacific Stock Exchange yesterday, Wednesday the 14th of August 2019.
As part of the listing process, existing PDM shares were offered to the public by PDM’s shareholder, Skeggs Group Limited, through an Initial Public Offering (IPO) that closed on 6th of August 2019.
Under the IPO, applications for just over $14.9m were received, equivalent to 29.0% of PDM’s issued shares. This significantly exceeded the minimum IPO target of 20.0% of issued shares.
The listing yesterday saw 40,000,000 ordinary shares in PDM quoted on the SPX’s main board at an opening price of $1.31. During the first trading day, a total of 11,640,943 shares at a price range of $1.26 to $1.40 were executed in 608 trades. PDM closed its first trading day at a price of $1.40 (up $0.09 or 6.87%), with aggregate market capitalisation at $56,000,000. The latter represents 1.54% of the SPX’s aggregate market value. Based on the current market statistics, PDM ranks as the 10th largest entity by market capitalisation out of the 21 companies listed on the SPX.
We are pleased to inform that all applications during the offer period have been accepted and all shareholders will be allotted the full number of PDM shares that had been applied for.
The Central Share Registry (CSR) of the SPX expects to complete processing all applications by early next week. CSR will then send all shareholders registration details which will enable you to download your Share Statement online. Shareholders who are unable to access the CSR platform
may obtain their Share Statements through their respective Brokers.
David Skeggs – Chairman
Nigel Skeggs – Director
About Port Denarau Marina Limited
Established in 1999, Port Denarau Marina Limited owns and operates a world-class multi-use marina facility on Denarau Island in Nadi. It strives to be the leading marina facility in the Pacific, providing exceptional customer service with safe and healthy facilities, ensuring the enhancement of Fiji’s nautical tourism industry while protecting her distinct marine environment for future generations.
For more information, contact Nigel Skeggs on 707 5630 or email [email protected] .