Capital Markets

With only 20 firms listed, the Port Moresby Stock Exchange (POMSoX) is subject to volatility, but market capitalisation is on an upward growth trend. Like the country’s formal economy, the bourse is dominated by mining and energy firms, along with related sectors like financial services and transport. PNG also has a thriving primary bond market, driven by commercial banks purchasing T-bills and C-bills with a short-term maturity. The government is working with POMSox to develop a secondary bond market for these instruments, which could boost PNG’s international credit rating and make it more attractive as an investment destination. This chapter features interviews with Geoff Mason, General Manager, Port Moresby Stock Exchange (POMSoX); and Ian Mason, General Manager, BSP Capital.