Emtel, the Indian Ocean telecoms giant, has officially gone public on the Stock Exchange of Mauritius (SEM). In a significant move, Emtel has opened up 25% of its shares to investors from South Africa, the United Kingdom, and Mauritius. This landmark Initial Public Offering (IPO) offers a unique opportunity for investors to be part of a leading telco’s future growth and success.
Priced at MUR 23.00 per share, the IPO opened yesterday and will close on June 22. Emtel CEO Kresh Goomany emphasized the strategic importance of this IPO, stating, “By going public, Emtel positions itself not only as a leader in the telecommunications sector but also as a catalyst for innovation and economic growth.”
Goomany further highlighted the potential for investors, saying, “This IPO is an exceptional opportunity for investors to become partners in our bold vision and limitless ambition. Together, we will propel Emtel to new heights, connecting Mauritius and its regions to the rest of the world with unparalleled excellence.”
The results of the allocation will be announced on July 3, 2024, with trading on the SEM starting two days later. This timeline marks an exciting phase for both Emtel and its new investors, as the company embarks on its journey as a publicly traded entity.
Emtel chairman Bashirali Currimjee echoed these sentiments, noting the company’s 35-year legacy of pioneering innovation in the Mauritian ICT sector. This IPO not only reinforces Emtel’s leadership in telecommunications but also underscores its commitment to driving technological advancements and economic progress.
Investors from South Africa, the UK, and Mauritius are set to benefit from Emtel’s strategic vision and robust market position. This IPO is more than just an investment—it’s an opportunity to be part of a transformative journey in the telecommunications landscape of the Indian Ocean region.
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