Rs 23.2 billion raised on Mauritius’ stock exchange in 2013
This amount, as specified by the SEM, represents new shares, rights issuance as well as bonds launched by the companies listed on both markets. (Image: Investors Europe Mauritius)
The stock market in Mauritius had a profitable run in 2013 with the total value of capital raised on the Official Market as well as the Development and Enterprise Market (DEM) amounting to Rs 23.2 billion.
According to the first bulletin released in 2014 by the Stock Exchange of Mauritius Ltd (SEM), this amount represents new shares, rights issuance as well as bonds launched by the companies listed on both markets.
The SEM attributes the strong performance of the stock exchange to the solid financial results realized by prominent companies, inciting local and foreign investors to increase their portfolios of securities, and also to the renewed interest of foreign investors in the local market with net investments of Rs 547.2 million.
“We witnessed noticeable activity in terms of bond issuance by listed companies,” noted the SEM, adding that listed companies have raised Rs 6 billion in terms of new bond issues through public offerings and private placements last year.
The total market capitalization, covering both the Official Market and the Development and Enterprise Market (DEM) stood at Rs 268.72 billion at end 2013, representing 78% of the GDP.
Of this, the market capitalization of the Official Market on December 31, 2013 dominated at Rs 212.93 billion, compared to Rs 175.17 billion at end 2012.
Finally, the annual turnover of the stock exchange amounted to Rs 14.3 billion in 2013 compared to Rs 10.9 billion in 2012, while the ratio of total turnover to market capitalization stood at 5.3%.
The SEMDEX, the main index of the SEM, has recorded a 20.99% rise to end the year with 2095.69 points while the index of the total efficiency on the official market, the SEMTRI, progressed by 24.41% to end 2013 at 6673.93 points.
On the Development & Enterprise Market (DEM), the DEMEX and the DEMTRI registered a growth of 17.75% and 21.19% respectively for the period under review.
The top trading sector has been the banks and insurance sector, with a share of 37.3% in total trades, followed closely by investments at 31.3%.