Business
Stevenhills Stock Market Debut: 15% Shares Open to Mauritians at Rs 18
In a stride towards its public listing, Stevenhills is inviting the people of Mauritius to partake in its capital, with shares priced at Rs 18 each. This pivotal decision marks the final stretch for Stevenhills as it prepares to grace the official market of the Stock Exchange of Mauritius (SEM) through an Initial Public Offering (IPO). For the first time, members of the public will have the opportunity to acquire shares in this burgeoning enterprise.
A Share Price of Rs 18
The public offering sets the share price at Rs 18, with a minimum subscription threshold of 1,000 shares, amounting to Rs 18,000.
Should demand soar, up to 25% of the total capital may be allocated to the public. Interested investors must submit their subscription requests through SEM-licensed brokers by the deadline of Friday, 2nd May 2025.
The board has also approved a dividend of 62 cents per share, translating to a yield of 3.4% based on the introductory price, which is expected to be disbursed around 20th June 2025.
Three Pillars of the IPO
- Creating Value
Stevenhills perceives its IPO as a natural evolution, aimed at bolstering its growth strategy and solidifying its market position. - Enhancing Transparency
By becoming a publicly listed company, Stevenhills will enable its partners, both in Mauritius and the wider region, to monitor its value through quarterly, semi-annual, and annual results. - Democratising Shareholding
Another key objective is to bring the company closer to the Mauritian populace, granting them the chance to partake in its success and directly benefit from its profits through dividends.
Key Figures to Remember
15%
To date, Stevenhills has been wholly owned by WYS Holdings Ltd, which will relinquish a minimum of 15% of its capital through this IPO.
Rs 192 million
In the financial year ending 30th June 2024, the company reported post-tax profits of Rs 97 million. In a remarkable display of growth, for the twelve months concluding on 31st December 2024, Stevenhills achieved post-tax profits of Rs 192 million.
Rs 287 million
Stevenhills’ contribution to the state coffers for the financial year ending 30th June 2024 amounted to a staggering Rs 287 million.
This figure encompasses taxes on bets, corporate tax, contributions to the Corporate Climate Responsibility Levy, and transfers to the National Solidarity Fund.
A Brief Overview
Founded in 2008, Stevenhills Ltd stands as the premier operator of fixed-odds sports betting on football matches played outside Mauritius.
The company boasts 19 branches across the island, with a 20th outlet set to open in 2025.
Furthermore, Stevenhills has submitted a request to the Gambling Regulatory Authority (GRA) to offer remote betting options, including via SMS, in line with technological advancements and evolving betting habits.
A Word from the CEO
Hossen Goburdhun, CEO of Stevenhills, remarked, “The Mauritian gaming market is in a state of continuous growth. Football betting is a clear public preference.
According to the latest available figures, bets on football matches and horse racing amounted to nearly Rs 7.6 billion in 2023.
Moreover, football betting has seen an 18% increase from 2022 to 2023.”
As Stevenhills embarks on this new chapter, it not only seeks to expand its horizons but also to forge a deeper connection with the Mauritian community, inviting them to share in its journey towards success.
Source: Defi media
