MTCC, which is the one of the largest construction and logistics companies in the Maldives is in discussions with the Mauritius Stock Exchange to get listed in their stock market.
If this endeavor is green lit, this would mark an important point in the country’s economic history as this would be the first time a local company lists in an international stock market.
Addressing the media Managing Director of MTCC Ibrahim Ziyath stated that work has been set in motion to list MTTC on the Stock Exchange of Mauritius (SEM). He also added that this was a decision reached by the board of the company. While MTCC has begun work to be listed , permission for the listing has not yet been given by the Stock Exchange of Mauritius. And their application is currently being processed and reviewed.
MTCC began on work on being listed after the agreement last year between Maldives Stock Exchange (MSE) and Stock Exchange of Mauritius (SEM) which would make cross border listings easier.
Whilst discussions are underway to generate capital for their projects, they are already conducting numerous projects totaling at over 2 billion Rufiyaa in the Maldives. Stats released for the second quarter of this year show that the company has made 30 million Rufiyaa in profits.
The Mauritius stock market was opened in 1988, has over 40 companies valued at 5.3 billion dollars.
