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FHL Announces Acquisition Of Additional New World Limited
Fijian Holdings Limited today has finalized the acquisition of additional shares in New World Limited (NWL). NWL is the owner and operator of the New World chain of supermarkets which is represented in major business centers of Fiji. FHL in this acquisition had acquired an additional 87,006 NWL shares for $107,887.52, with an expected return of around 8%. In announcing the share purchase, FHL Managing Director Mrs. Sereana Qoro said that FHL had exercised its pre-emptive rights as did other shareholders of New World after an existing shareholder of the company decided to sell off its NWL shares. FHL shareholdings in the company will not substantially change as other major current NWL shareholders had also acquired the sold shares in proportion to the current holdings in the company. FHL initially invested into NWL in the early 2000’s and the opportunity to acquire additional shares in the company was pursued given FHL current assessment of the current retailing market in Fiji. Ends
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