MARKET INFORMATION
The Stock Exchange of Mauritius (SEM)
http://www.stockexchangeofmauritius.com/

 

Trading Hours

Pre-opening session

09:00 – 10:00

Open

10:00

Close

14:30

Time Zone

GMT+4

Trading Days

Monday – Friday

Trading Currency

The Stock Exchange of Mauritius is a multi-currency trading platform where it permits the listing, trading and settlement in Mauritian Rupee (MUR), EUR, ZAR, GBP and USD.

 

 

 

Main Index

1) SEM-All Share Index (SEM-ASI) includes all listed companies that are denominated in MUR, USD, GBP, EURO, ZAR and other foreign currencies which meet the SEM’s free-float requirements

Reuters code

.MASI

Bloomberg code

SEMASI

2) SEMDEX includes all listed rupee-denominated companies which meet the SEM’s free-float requirements.

Reuters code

.MDEX

Bloomberg code

SEMDEX

Exchange Codes

MSE

MZ

Bloomberg

MP

Trading ID/ Trading Requirements

CDS account number

Settlement Cycle

T+3.

Current Index Status

MSCI FM - FTSE FM

Market Cap

$5.8bn
Average Daily Value Traded
YearAVG VALUE TRADED
2021 $1.30mn
2022 $1.31mn
2023 $1.10mn

 

MARKET DYNAMICS

Stock Limit
Up/Down


+/-20%

from previous close

Tick
Size

 

Price Range

Tick size

<5.00

0.01

≥5.00<10.00

0.02

≥10.00<50.00

0.05

≥50.00<500.00

0.25

≥500.00<1000.00

1

≥1000.00

5

Off- Market
Crosses


Off-market crosses can take place with the following criteria:
All crosses must be conducted through ATS (Automated Trading System. Off market transfers are allowed subject to the approval of the respective issuers, in the following exceptional cases; Successions - Donations - Re-organisation / restructuring of corporations.

Board Lot


100 shares. (odd lot board available)

Special
Crossing Board


There is a special crossing board for block trades if the value of the trade is either more than 2% of the issued number of securities or greater than MUR 10mn

Official Closing Price

Last traded price


Crosses

Crossing can be done in market spread during the regular trading hours.

All or None


available

MARKET REGULATIONS
Foreign Ownership Restriction
Foreign investors may own 100% of all listed stocks with some exceptions such as:

1) Sugar companies: Foreign ownership is restricted to 15% and the market’s approval is required for exceeding this level.

2) Banks: No single shareholder is permitted to own more than 10% of a listed bank

3) SBM Holdings: No single shareholder is permitted to own more than 3% of the voting rights

4) Rogers & Co Ltd: No single shareholder is permitted to own more than 10% of its issued share capital without the prior authorization of the Board
Disclosure Rules
1) At 10% ownership of any sugar company by a foreign investor, a notification must be ma

2) At 10% ownership of any listed bank a disclosure must be made and this level can not be exceeded before the approval of Bank of Mauritius is granted.

Please note that an Investment Dealer has to report all transactions made by foreign investors to the SEM on a monthly basis.
Securities Lending
permitted provided that the counterparty finds a willing lender for securities.
Short selling
Not permitted
Crossing Restrictions
Multiple allocations are not permitted for crosses on the crossing board only
MARKET FEES & TAXES
Market Fees For trades < MUR 3mn = 0.5%

For trades from MUR 3mn < MUR 6mn = 0.45%

For trades from MUR 6mn < MUR 10mn = 0.45%

For trades more than MUR 10mn = 0.4%
Capital Gain Tax None
Withholding Tax None
Dividend Tax None
Depending where the investor is tax resident, the investor may be subject to its own tax
levies in its jurisdiction from income, capital gains sourced from Mauritius