On March 30 1989, the Stock Exchange of Mauritius Ltd (SEM) was established in Mauritius as a private limited company with a public authorization.It is a member of the World Federation of Exchanges (WFE) and the aim of the SEM is to become a World Class Stock Exchange.
The SEM controls three markets: the Official Market, the Development & Enterprise Market (DEM) and the Over-The-Counter (OTC) Market.In January 1997, the Central Depository System (CDS) was successfully executed, which added prompt, efficient clearing and settlement of trades and simultaneously abbreviated a number of the inherent risks in the process.
On 29th June 2001, SEM’s Automated Trading System (SEMATS) was opened. In December 2003, the dealing of treasury bills on the market was introduced by the SEM.In November 2005, SEM joined the World Federation of Exchanges (WFE) as an active member.
History and Origin of the Stock Exchange of Mauritius
The Stock Exchange Act 1988 founded a small but successful exchange which is operate by a private limited company known as the Stock Exchange of Mauritius Ltd (SEM),and the Act also formed the Stock Exchange Commission (SEC) which controls and oversees stock exchange operations.
On this exchange two markets are operated: the Official List and the Over-The-Counter Market.At the end of 1997, with the formation of a new electronic clearing and settlement system and the beginning of daily trading, major developments of the SEM have been recognized. SEM is a founder member of the African Stock Exchange Association (ASEA). In 1994, the SEM was opened to foreign investors with the eradication of exchange controls.
At present, the market indices of Mauritius Stock Exchange are the Semdex, the Semtri and Sem-7.
The SEM controls three markets: the Official Market, the Development & Enterprise Market (DEM) and the Over-The-Counter (OTC) Market. In 1989, the Official Market commenced its functions with five enrolled companies and a market capitalization of almost USD 92 million. Till 30th November 2006, there are 41 companies enrolled on the Official Market which represent a market capitalization of almost US$ 3,696.48 million. On 4th August 2006, the DEM commenced its functions and till 30th November 2006, 43 companies enrolled on this market with a market capitalization of approximately US$ 1,388.13 million.With the execution of the DEM, the OTC Market will be closed.
Major Companies listed in Stock Exchange of Mauritius
The Anglo Mauritius Assurance Society Ltd
The Black River Investments Company Ltd
Constance Hotels Services Limited
Deep River Investment Ltd – Ordinary B Shares Investment
Espitalier Noel Investment Trust Ltd – Ordinary Shares Investment
Espitalier Noel Ltd – Preference Shares Investment
Excelsior United Development Companies Ltd – Ordinary Shares Investment
Forward Investment & Development Enterprises Ltd
Air Mauritius Limited
ABC Motors Company Ltd
Associated Commercial Company Ltd
Alma Investments Company Ltd
Compagnie Immobiliere Ltee
Constance La Gaite Company Ltd
Gamma Civic Ltd Industry
General Investment and Development Co. Ltd
Harel Freres Ltd
Harel Mallac and Company Limited
Deep River Beau Champ Ltd
The Stock Exchange of Mauritius Ltd
4th Floor, One Cathedral Square Building
16, Jules Koenig Street
Port Louis, Republic of Mauritius
Tel: (230) 2129541
Fax: (230) 2088409