Emtel Limited, 1st Telecom Company to Hit the Stock Exchange

Emtel Limited has filed an application with the Mauritius Stock Exchange (SEM) to list its entire social capital on the official list of the SEM. The leading telecommunications company, is set to become the first telecom company in the country to list on the stock exchange.

The move is expected to be completed after the initial public offering (IPO) and is subject to the approval of the SEM.

The IPO will be open to both local and international investors, in accordance with Regulation S of the US Securities Act.

The offer will be made through a sale of existing shares by Currimjee Jeewanjee and Company Limited and Indian Continent Investment Limited, which hold approximately 75% and 25% respectively of Emtel’s shares.

In a statement, Emtel’s CEO, Kresh Goomany, expressed his enthusiasm at the prospect of becoming the first telecom company in Mauritius to go public.

“This is a unique opportunity for investors to participate in the growth story of Emtel,” he said.

“We invite visionary partners and investors to join us as we embark on a new journey, operating with the highest standards of integrity and excellence.”

The listing is expected to not only expand Emtel’s shareholder base but also accelerate its growth plans and enable investments in cutting-edge technologies to better serve its customers.

Source: Defi Media