The Maldives Stock Exchange (MSE) has announced the listing of the Government of Maldives’ Treasury Bonds on its Main Board. The listing, totalling MVR 50 million, marks a milestone as the first-ever Government security listed on the Exchange.
The government is committed to developing the domestic capital market per its Medium-term Debt Management Strategy.
The Treasury Bonds, issued with a coupon rate of 5.5% per annum and the maturity set for December 2028, were successfully placed with 50,000 bonds at MVR 1,000 per bond. This listing underscores the Exchange’s position as a well-established marketplace and extends investor access to Treasury instruments through secondary market trading.
The new listing has taken the total value of debt listed on the Main Board of the Exchange to MVR 1.2 billion. Dr Mohamed Shafeeq, Minister of Finance, said, “This listing marks the achievement of a historical milestone towards developing the domestic securities market. With this, we have created an opportunity for individuals and small, medium, and large enterprises to benefit from government securities through the secondary market. I hope this will pave the way for a liquid and active secondary market in the Maldives.”
Mr. Aushan Latheef, CEO of the Maldives Stock Exchange, said, “We are pleased to welcome the first-ever listing of Government Treasury Bonds on the Maldives Stock Exchange. This accents our position as a well-established marketplace for Issuers and highlights the strength and appeal of the domestic capital market. It also offers investors access to Treasury instruments through secondary market trading. We extend our wholehearted support and gratitude to the Ministry of Finance and CMDA for their commitment to sustainable market development.”
Maldives Stock Exchange Company Pvt. Ltd (MSE) and its subsidiary company, the Maldives Securities Depository Company Pvt. Ltd (MSD), are private sector institutions licensed by the Capital Market Development Authority (CMDA) to operate and regulate the market for listed securities in the Republic of Maldives. The Exchange lists Shares, Conventional Bonds and Sukuk (Islamic Bonds).
Over 15+ years of operation, MVR 3.08 billion, an equivalent of USD 199.5 million, has been raised by listed issuers through the market through Public Offerings.
Today, the Main Board of the Exchange boasts a Treasury Bond issuance of MVR 50 million, alongside 04 Corporate Bond issuances of MVR 753 million and 04 Sukuk issuances of MVR 406 million.
The Viyana Board (Private Securities Segment) of the Exchange, launched in Sep 2022, hosts listings of 03 Corporate Bonds of MVR 187.5 million and 01 Sukuk issuance of MVR 20.48 million. MSE sincerely appreciates MoF and CMDA’s support and input leading up to the listing and achieving this milestone together.
