ATH Strategic Position
Incorporated in 1998 as part of Fiji Government's public sector reform program, Amalgamated Telecom Holdings Limited (ATH) emerged as the umbrella organization consolidating telecommunications investments. Over the years, ATH's shareholder structure underwent a transformation, from the government's majority ownership to strategic divestments and acquisitions involving institutional and individual investors. This evolution has played a pivotal role in shaping ATH's growth and market presence, reflecting a dynamic journey in Fiji's telecommunications sector.
-
FNPF Ownership
As the dominant superannuation fund in Fiji, FNPF currently holds 72.25% of the issued capital of ATH. Established in August 1966 under the FNPF Act, FNPF's primary objective is to provide financial security to all workers in Fiji upon retirement. With over $2.3 billion of funds under management, FNPF is the largest single source of long-term funds in Fiji.
-
Government Shareholding
The Fiji Government initially held a 51% stake in ATH when it was incorporated in 1998. Over the years, the government gradually reduced its ownership through various divestment measures, including private placements and public offers. As of May 2021, the government's shareholding stood at 15.25%, making it the second-largest shareholder in the company.
-
Institutional Investors
In February 2002, as part of a private placement, ATH sold 9.7% of its shares to institutional investors, including FNPF. This move diversified the shareholder base and brought in additional capital for the company's development.
-
Other Institutional Investors
Apart from FNPF and the Fiji Government, the remaining 12.05% of ATH's shares are held by 1,480 individual shareholders. These individuals likely include retail investors, employees, and other stakeholders who have invested in the company.