Papua New Guinea’s Kina Securities debut share price ‘exceeded expectations’

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The 30 per cent jump in the value of Kina Securities when it listed jointly on the Australian Securities Exchange and the Port Moresby Stock Exchange last Thursday ‘exceeded our expectations’, Chief Executive Officer Syd Yates tells Business Advantage PNG.

In brief: Sovereign Wealth Fund & Corruption Commission legislation before parliament, and other business news

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Proposed Sovereign Wealth Fund reaches third reading stage, Air Niugini ‘on track’ for 50% sell-off, and second LNG plant to create 10,000 jobs. Your weekly digest of the latest business news.

Kina Securities prospectus released with aim of raising K202 million

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Ordinary Papua New Guineans will be able to apply to purchase at least some of 97 million shares in PNG-based financial services company Kina Securities. The company has just launched its prospectus, ahead of an expected listing on both the Port Moresby and Australian stock exchanges on 30 July.

People moves: Kina Group, Asia Pacific Economic Co-operation Business Advisory Council, InterOil

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Kina Group appoints a new Director and the government names new members of PNG Asia Pacific Economic Co-operation Business Advisory Council, and a new board member for InterOil.

Kina Group’s Australian Stock Exchange listing a first for Papua New Guinea

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Papua New Guinea’s Kina Group aims to list on the Australian Stock Exchange in late July—arguably the first PNG company to undertake such a move. Business Advantage PNG talks to Chief Executive Officer, Syd Yates, about what he sees as a ‘great opportunity’ for PNG.

Papua New Guinea government seeks to encourage more investment by opening stock exchange to more competition

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Prime Minister Peter O’Neill says a planned ‘shake up’ of the Port Moresby Stock Exchange (POMSoX) will lead to more innovation and increased domestic and international investment.

Papua New Guinea’s Kina Group buys Maybank; listing in sights

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Kina Group is set to become Papua New Guinea’s fourth retail bank, when it takes over the Malaysian-owned Maybank (PNG) in late July, ahead of a possible stock market listing.

InterOil chief positive about Papua New Guinea’s role as LNG provider, despite oil prices fall

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Papua New Guinea is well positioned to benefit from rising LNG demand, despite falling prices, says InterOil Managing Director, Michael Hession.

Bank of Papua New Guinea intervenes on kina

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The Bank of Papua New Guinea this week made a surprising move to support a weakening currency, at the same time acting to restrict the margins being made by the country’s foreign exchange dealers.

Kina Finance launches first non-bank EFTPOS card

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Kina Group has launched Papua New Guinea’s first non-bank EFTPOS cash card.