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Listed company turns insolvent, suspended by Stock Exchange

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Listed company turns insolvent, suspended by Stock Exchange

The Stock Exchange of Mauritius (SEM) has suspended the dealings in the securities of Infrastructure Commodities (Mauritius) Ltd (ICML). It was listed on the Official market of the Stock Exchange of Mauritius.

The suspension was approved by the Listing Executive Committee with immediate effect, the SEM said on 29 March.

The development comes after the appointment of Mr Shareed Ramjan of SRA Partners as Administrator of ICML pursuant to Section 215 of the Insolvency Act 2009.

Dealings in the securities of ICML will remain suspended until further notice, the SEM said.

Infrastructure Commodities (Mauritius) Limited (ICML) is a private equity company that focuses on investing in mining companies that explore, develop and produce commodities used in infrastructure development.

The company primary focus was on investing in Coal, Copper and Iron Ore. 

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The information and opinions expressed in our published works are those of authors/sources believed to be reliable. NewsMoris makes no representations as to accuracy, completeness, suitability, or validity of any information expressed.