We are pleased to announce that Emtel Limited has successfully listed on the Stock Exchange of Mauritius (SEM). As the Lead Transaction Advisor for this landmark initial public offering (IPO), Absa Mauritius is proud to have supported Emtel on this significant journey, underscoring our commitment to investing in our clients' stories and enabling their growth ambitions.
After Emtel Limited announced the publication of the Prospectus for its IPO on 29 May 2024, detailing the offer of 113,850,000 ordinary shares at MUR 23.00 per share, the company is pleased to report the successful completion of the offer. Closing on 21 June 2024, the IPO attracted full subscription from a diverse investor base of 4,273 institutional and retail investors.
Ravin Dajee, Managing Director of Absa Mauritius, commented:
"We are immensely proud to have been part of Emtel’s journey to becoming the first telecommunications operator in Mauritius to list on the SEM. This IPO is not only a testament to Emtel’s strength and market leadership but also reflects our dedication to providing top-notch transaction advisory services. We look forward to continuing to support Emtel’s growth ambitions and contributing to the development of Mauritius’ capital markets."
Highlights of the Offer include:
- The offer opened on 29 May 2024 and closed on 21 June 2024.
- The offer price was MUR 23.00 per share, with a total of 113,850,000 shares offered by the existing shareholders.
- The market capitalisation of Emtel upon listing is expected to be approximately MUR 10.5 billion, placing it among the top five largest listed stocks on the SEM.
The successful listing on 5 July 2024 marks a significant milestone for Emtel, as it joins the prestigious ranks of publicly listed companies on the SEM. This achievement will broaden Emtel’s shareholder base, enhance its corporate governance, and integrate it more deeply into the Mauritian economy.
Absa Mauritius is honoured to have played a pivotal role in this historic event, leveraging its deep local market and sector knowledge together with our Pan-African expertise to deliver best-in-class transaction execution and advice. This accomplishment not only highlights our capabilities but also reinforces our position as a leading Investment Bank in Mauritius.
As we celebrate this achievement, Absa Mauritius reaffirms its commitment to enabling the growth of Africa’s capital markets and supporting our clients’ ambitions.
