🇲🇺 Stock Exchange of Mauritius

Emtel Limited announced its intention to undertake an initial public offering (IPO) of 113,850,000 existing ordinary shares (the “Offer Shares”) representing 25% of the Company, and the expected publication of an offer document (“Prospectus”) that has been submitted to both the Financial Services Commission, Mauritius (the “FSC”) for registration and the Stock Exchange of Mauritius (the “SEM”) for approval.

Mauritius-incorporated firm Phoenix Beverages Limited (PBL) has received approval to acquire a 28.15 percent stake in a local firm that manufactures alcoholic and non-alcoholic beverages.

The Stock Exchange of Mauritius (SEM) has opened a window for Kenyan investment banks and stockbrokers to trade on its market platform, potentially opening up new offshore investment options in the Indian Ocean island State.

Shareholders of Fidelity Commercial Bank Ltd (FCBL), which was acquired by Mauritius-based banking group SBM Holdings in 2017 have jumped the first hurdle after a judge declined to stop a case they have filed before the High Court seeking a Sh2.5 billion compensation.