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Fiji Airways set to receive US$41.7 million in capital raising
July 15th 2022
Fiji National Provident Fund (FNPF) is in line to become the second largest shareholder in Fiji Airways after it agreed to pay F$93.1 million (US$41.7 million) for a 30.02% holding in the national carrier. Read More » FNPF said due diligence on the proposed transaction, which was announced last week, commenced in September 2021 and was advised by ANZ Corporate Advisory, IBA, Norton White, McGrathNicol, Hall & Wilcox, Howard’s Lawyers and Molony Advisory. “Fiji Airways has always been on our radar. We saw this as an opportunity and believe there will be full recovery of our investment, given this strategic national asset has high return potential both in interest income and capital appreciation, apart from the obvious tourism synergies,” FNPF CEO, Viliame Vodonaivalu, said. The Fiji government is the largest shareholder in Fiji Airways. Other shareholders are Qantas, Unit Trust of Fiji, Air New Zealand and the governments of Kiribati, Nauru, Samoa and Tonga.
