November 2026
Largest Public Companies in Papua New Guinea
Benchmark revenue and EBITDA valuation multiples for public comps like
BSP Financial Group, Pacific Lime and Cement, Kina Securities, Tolu Minerals and Steamships Trading Co.
 | BSP Financial Group Ltd is a diversified business covering banking, asset finance, life insurance, and fund management. The company's operating segments include banking services, split into PNG Bank and Offshore Banks, and non-banking services, which comprise insurance operations, fund management, and asset financing activities. It generates a vast majority of its revenues from the PNG Bank segment. Geographically, the company operates in Papua New Guinea, Fiji, Solomon Islands, Cook Islands, Tonga, Samoa, Vanuatu, Cambodia, and Laos. | $5 | +6% | $2.5B | $2.5B | 3.3x | - | ||
| Pacific Lime and Cement Ltd is an investment holding company focused on exploration and evaluation in Papua New Guinea. The Group is organized into the following segments: Cement and Lime, which includes limestone and the Central Cement and Lime Project; Iron and Industrial Sands, focusing on the development of the Orokolo Bay Iron and Industrial Sands Project; Coal and Power, managing the Depot Creek coal resource and domestic power project proposals; Renewables, investing in forestry carbon credit projects and proposed solar and geothermal projects; and Corporate, providing group-level corporate services, investment, and treasury functions. | $0 | +49% | $247M | $251M | 188.3x | (18.3x) | ||
| Kina Securities is a Papua New Guinean financial services group that trades as Kina Bank and is based in Port Moresby. It began in 1985 as a securities and investment business, bought the PNG banking operations of Maybank in 2015 to obtain a banking licence, and listed on the Australian Securities Exchange and the Port Moresby exchange in July 2015. In 2019 it took over the retail, commercial and small business banking of ANZ in the country. The group offers banking, funds administration, wealth management and stockbroking, and says it manages more than PGK 11 billion of funds and administers accounts for over 938,000 beneficiaries. For 2025 it reported total assets of K5.5 billion, customer deposits of K4.6 billion and statutory net profit after tax of K121 million. | $1 | -9% | $215M | $215M | 1.6x | - | ||
| Tolu Minerals Ltd is engaged in mine acquisition and evaluation activities. Its project portfolio comprises the Tolukuma Gold Mine project and the Mt Penck gold-silver project, and other mineral deposits in Papua New Guinea (PNG). | $1 | -9% | $215M | $182M | 653.4x | (18.4x) | ||
| Steamships Trading Co Ltd is a diversified holding company. The company's operating segment includes i) Property and hospitality: It consists of shipping and land-based freight transport and related services divisions. ii) Logistics: It consists of shipping and land-based freight transport and related services divisions. iii) Commercial & investment: It consists of commercial, head office administration function and insurance activities. The majority of the company's revenue is derived from the Property and hospitality segment. Geographically, the company operates almost wholly in Papua New Guinea. | $6 | -8% | $192M | $344M | 2.4x | 7.1x | ||
| Bougainville Copper Ltd is an investing company. The company focuses on exploration and sustainable, profitable Papua New Guinea mining in the Autonomous Bougainville Province. Revenue generated by the company mainly comprises interest income and dividend income. | $0 | -72% | $44M | $41M | - | - | ||
| Median | $1 | -9% | $215M | $233M | 3.3x | (18.3x) |
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