Emtel’s Listing on the Stock Exchange: A Game Changing Move

In a historic move, Emtel, a leading telecommunications company in Mauritius, has launched its prospectus, marking the official start of its listing on the stock exchange.

The company’s 35th anniversary coincided with this milestone, and Bashir Currimjee, Chairman of Emtel, hailed the decision as a “game changer” for the company.

The prospectus, which includes an offer for sale of 113,850,000 ordinary shares to the public at Rs 23 per unit, will see Emtel listed on the official market of the Stock Exchange of Mauritius (SEM) on July 5.

The initial public offering (IPO) is expected to raise Rs 2.65 billion.

Emtel has reported a revenue of Rs 3.8 billion for the year 2024 and profits of Rs 530 million.

The company has also announced plans to pay dividends of Rs 700 million in 2024, subject to satisfactory performance.

The company’s decision to open up its capital to the public is driven by the need to diversify its operations and take advantage of new opportunities.

The ICT sector has seen significant growth in recent years, and Emtel has been at the forefront of innovation in Mauritius, Rodrigues, and Agalega.

The company’s diversified business model is operated by a strong management team led by CEO Kresh Goomany.

Emtel has a clear strategy for growth and profitability, which will continue to be supported by its current shareholders.

In an interview, Bashir Currimjee said that the listing will enable investors and the public to participate in the company’s growth and will be a major step forward for Emtel.

“When we started 35 years ago, nobody could have imagined how technology would develop,” he said.

“Over the last 35 years, we have pioneered innovation in the ICT sector and committed ourselves to connecting Mauritius, Rodrigues, and Agalega to the world.”

The company’s goals include expanding its 5G network to cover the entire island by 2025, developing new services and products, and capitalizing on the growth of data centers and cloud adoption.

Emtel is also planning to invest in digital transformation and sustainability initiatives.

Emtel’s listing is expected to have a significant impact on the Mauritian economy and will provide a new avenue for investors to participate in the country’s growth.

The company’s financial performance is expected to improve significantly over the next three years, with revenues reaching Rs 4.5 billion in 2026 and profits of Rs 840.1 million.

Source: Le Mauricien