ASX-listed BSP Financial falls as PNG govt introduces new tax

BSP Financial

26/11/2021 03:09

** ASX-listed shares of BSP Financial Group Ltd  BFL.AX 
fall as much as 4.4% to their all-time low of A$4.30
    ** The Papua New Guinea-based banking services co says that
it will be paying an additional 190 mln kina ($52.73 mln) in tax
for FY2022  urn:newsml:reuters.com:*:nASX8834V3
    ** Says the additional tax will be paid under "Dominant
Industry Player Levy" introduced by the PNG govt in its 2022
budget
    ** Adds the levy is a flat tax and will have a direct impact
on co's net profit after tax from 2022 onwards
    ** BSP Financial stock mark its third consecutive session of
losses, on track for their worst day since Nov 10
    ** As of last close, stock down 13.5% since its July debut

    ($1 = 3.6036 kinas)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))