Papua New Guinea’s National Stock Exchange, PNGX, is the country’s sole approved securities exchange and operates from Monian Haus, Level 1, in Port Moresby.
Incorporated on January 26, 1998, as the Port Moresby Stock Exchange (POMSoX), it commenced operations in April 1999 with Steamships Trading Ltd as its first listed company on June 4, 1999. PNGX closely mirrors the Australian Stock Exchange (ASX) by licensing ASX’s Business and Listing Rules and adopting similar procedures and governance frameworks (Securities Commission of Papua New Guinea, 2022).
Currently, PNGX is owned by Kina Securities Limited and Pacific Capital Markets Development Ltd, which acquired Bank South Pacific’s 62.5% majority stake in 2018. The exchange is served by two active brokers: Kina Securities Limited and JMP Securities Ltd, the latter having acquired BSP Capital in April 2020 according to reports by Securities Commission of Papua New Guinea.
As of August 2025, PNGX lists 12 companies across sectors ranging from aviation, banking and finance, mining and exploration, to oil and gas, with a market capitalization of roughly PNG Kina 138 billion (approximately USD 37 billion). However, dual listings of major companies such as Newcrest Mining and Santos inflate this figure, and purely local market capitalization is closer to PNG Kina 7.7 billion (USD 2.25 billion) as reported by PNGX Markets, in 2024.
Trading activities remain modest, reflecting PNGX’s relatively small size compared with regional peers. Trading volumes involve key securities such as Kina Securities Limited and Bank South Pacific, with the exchange facilitating capital raising and secondary market transactions.
PNGX is regulated and licensed by the Papua New Guinea Securities Commission under legislative reforms enacted in 2015. These reforms replaced the prior Securities Act 1997, aiming to stimulate competition, improve market transparency, and protect investors in Papua New Guinea’s nascent capital markets.
The exchange runs two primary markets: an Equities Market for shares and a Debt Market for fixed income securities. It operates under a fee schedule based largely on market capitalization, with specific discounts for companies incorporated outside Papua New Guinea or dual-listed on PNGX.
PNGX has also committed to sustainability and good governance practices by joining the United Nations Sustainable Stock Exchange Initiative. PNGX Chairman David Lawrence emphasized the exchange’s recognition of local sustainability challenges and the need to promote ESG (Environmental, Social, Governance) standards to facilitate access to finance and strengthen corporate governance.
The exchange runs daily trading sessions using its proprietary PNGX Market Trading System (PETS) from 9 a.m. to 4 p.m., ensuring orderly and transparent trading. PNGX also provides education and awareness initiatives to encourage investment and financial literacy among Papua New Guinea’s population.
Despite limited trading volumes and a relatively small number of listed entities compared to global exchanges, PNGX remains vital for Papua New Guinea’s economic development. It facilitates equity and debt financing for enterprises, supports financial market growth, and endeavors to modernize through new SME market initiatives and enhanced corporate governance frameworks.
PNGX is the central hub for public capital markets in Papua New Guinea, operating with regulatory oversight under the Securities Commission, aligned with international standards through its ASX partnership, and actively progressing toward sustainable market development.
