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Emtel Limited had announced on May 29 the publication of the prospectus relating to an initial public offering of 113,850,000 ordinary shares. The price per share is Rs 23.

The offering opened on May 29, 2024 and closed on June 21, attracted a diversified and broad investor base of 4,273 institutional and retail investors. It was fully subscribed.

Emtel Chairman Bashirali Currimjee, GOSK, says Emtel is on track to achieve a historic milestone in its journey.

“As the first telecommunications company to be listed on the Stock Exchange of Mauritius and indeed as one of the leading companies in Mauritius, it joins a prestigious list of companies listed on the SEM. We have received interest from a wide range of the investment community, including government and parastatal bodies, non-governmental organisations and individuals. We are delighted,” he said.

· Emtel will be admitted to the official list of the SEM from July 5, 2024. Based on the offer price, Emtel's market capitalization at listing is expected to be approximately Rs 10.5 billion, which will rank the Company among the five largest listed stocks.

· On the first day of listing, the company will make available to the market 1,000 ordinary shares at an indicative price of Rs 23 per share.

Fabrice Larétif

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