The South Pacific Stock Exchange has approved a request for a voluntary suspension of trading made by Fiji Care Insurance Limited.
The suspension is based on a voluntary request by Fiji Care Insurance Limited Board of Directors to suspend the trading of its shares for five business days effective immediately as discussions are continuing in respect of a proposal from a third party to possibly acquire a controlling shareholding in Fiji Care Insurance.
South Pacific Stock Exchange Chief Executive Krishika Narayan says discussions related to the possible takeover have now proceeded to an advanced stage and Fiji Care Insurance will be convening a board meeting next Tuesday to consider the matter in detail subsequent to which a further announcement will be released.
The voluntary suspension in Fiji Care Insurance Limited shares would be uplifted before the normal trading session opens on 17th November 2017 or when the company has released all material information relating to the proposed acquisition to the market.
