General Listing Requirements
An applicant seeking a listing on the DEM should have:
- A minimum market capitalization of Rs 20 million
- At least 100 shareholders
- A minimum of 10 % of its shareholding in public hands
- Published financial statements for at least 1 year, prepared in accordance with IFRS and audited in accordance with ISA without qualification.
The Stock Exchange of Mauritius Ltd (SEM) may grant admission to a company having less than 10 % of shareholding in public hands or having less than 100 shareholders provided that the company undertakes to increase its shareholding in public hands to 10 % and its number of shareholders to 100 not later than the end of the first year of admission, failing which the company may be struck off from the DEM. Admission may also be granted to a company if it has no proven track record provided that the company submits to the SEM a sound business plan covering at least 3 years and certified by an independent financial adviser, demonstrating sustained viability of the company and disclosing risk factors.
The SEM may accept a minimum percentage in public hands of 5 % in the case of a new applicant with an expected market capitalisation at the time of listing of over MRU 500 million, subject to the approval of the FSC.