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

$6.8bn
Average Daily Value Traded
YearAVG VALUE TRADED
2023 $1.1m
2024 $1.2m
2025 $1.2m

 

MARKET DYNAMICS

Stock Limit
Up/Down

+/-20% 

from previous close

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          -1.00

Crosses

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

Board
Lot

100 shares.
(odd lot board available)

All or
None

Not available

Official Closing Price

Last traded price

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

Off- Market
Crosses

Allowed subject to the approval of the respective issuers, in the following exceptional cases; Successions - Donations - Re-organization / restructuring of corporations

MARKET REGULATIONS
Foreign Ownership Restriction
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, prior to the approval of the Central Bank (BOM)

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


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

No official lending mechanism in place by the exchange but investment dealers can assist provided they get a willing lender to avoid failed trade & pass on the costs involved.

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 for foreigners

Fair-Share Contribution payable by “every individual whose Fair Share Contribution income threshold exceeds Rs 12 million” for locals, more detail available if required