Mauritian hospitality major Attitude Property to issue next IPO on the stock exchange
Mauritian hotel chain Attitude Property is offering up to 100,000,000 ordinary shares of no par value at an offer price of Rs 10 each for subscription, following which 178,000,000 ordinary shares of no par value will be listed on the Development and Enterprise Market (DEM) of the Stock Exchange of Mauritius.(Image: African Markets)
A Stock Exchange of Mauritius (SEM) communiqué has been issued to inform the public that Attitude Property Ltd has obtained the approval of the relevant regulatory authorities to proceed with the introduction of 78,000,000 ordinary shares of no par value.
The Initial Public Offering (IPO) of up to 100,000,000 ordinary shares of no par value will be listed on the Development and Enterprise Market (“DEM”) of the Stock Exchange of Mauritius, subject to all the conditions pertaining to the offer for subscription and the listing being met.
Attitude Property Ltd, incorporated in Mauritius, offers up to 100,000,000 ordinary shares of no par value at an offer price of Rs 10 each for subscription, fully payable on application, following which 178,000,000 ordinary shares of no par value will be listed on the DEM of the Stock Exchange of Mauritius.
The price of offer is Rs 10 per ordinary share, and, in case of over-subscription of the ordinary shares allocated to the public, the board of the company will define the allotment criteria and it also retains the right to allocate the ordinary shares in such manner as it deems appropriate.
The subscription opens on 21 July 2015 and closes on 28 August 2015.
Allotment of fully paid ordinary shares to shareholders will be done on 17 September 2015, with trading of ordinary shares on the DEM of the Stock Exchange of Mauritius Ltd to commence on 21 September 2015.
The general public is requested to note that applications for the IPO should only be considered on the basis of the prospectus which shall be available on request as from 21 July 2015 during business hours, free of charge, at FWM Secretarial Services Limited, Bowen Square, Dr. Ferrière Street, Port Louis, Mauritius and the website of the Stock Exchange of Mauritius (www.stockexchangeofmauritius.com).
Applicants for the IPO should apply for the ordinary shares (minimum of 1,000 shares) by filling in and signing the “Application Form for the Initial Public Offering” which shall be available at AXYS Stockbroking Ltd or any other licensed investment dealer, at the principal office of Attitude Property Ltd, in the Prospectus or for download on Attitude’s website (www.hotels-attitude.com).