The Stock Exchange of Mauritius (SEM) is holding a practical 2-Day comprehensive workshop on "Corporate Valuation", designed to enable professionals in the financial services sector, including Asset Managers, Executives from Management Companies in the Global Business Sector, Financial Analysts, Stockbrokers, Pension Fund Managers and Accountants, to have an in-depth understanding of the techniques of valuation of public companies and private equity ventures.
Participants will have the opportunity to work on a range of valuation examples, via real case-studies on companies listed on the Stock Exchange of Mauritius as well as on international companies. They will be exposed to the core fundamental techniques of valuation of IPO's, listed/non-listed companies. Advanced valuation techniques, namely brand valuation, start-up and private equity ventures valuation and buy-back impact on valuation will be introduced.
The program’s instructor is Patrick Legland. Patrick is a finance professional of more than 25 years and is an Affiliate teacher at HEC Paris, where he teaches Corporate and Asset Valuations, Mergers and Acquisitions, and Deal Structuring. Patrick is a Graduate Member of the Société Française des Analystes Financiers (SFAF) and has been associated with different Investment banks in Paris, London and Hong Kong.
This 2-Day workshop will be held on Thursday 11th and Friday 12th May 2017 at 9.00 a.m at Hennessy Park Hotel, Ebene. The fee for the course is Rs 25,000 per participant, comprising registration, tuition, course materials, lunch and coffee breaks. The course is MQA Approved.
In order to ensure a high-quality and interactive course, the number of seats will be limited. Registrations will be done on a first-come-first-served basis and close on 21 April 2017.
The SEM Young Investor Award 2017 is a national competition starting on 3rd April 2017 and end on 30th June 2017, spreading over a period of 3 months. Each team will be required to invest an investment fund of Rs 200,000 of token money in a portfolio consisting of 5 products [Shares and Exchange Traded Funds (ETFs)] listed on the Official Market of the Stock Exchange of Mauritius. Teams are allowed to make up to 10 investment swaps at any time during the period of the competition as well as reinvest dividend received.
Investment Portfolios will be updated on a daily basis, and on 30th June each portfolio will be valued as it stands as at that date using the quoted prices of the final trading session of 30th June, and taking into consideration all dividends receivable, dividends re-invested, bonus issues and proceeds from the sale of rights, if any.
Besides, each team will be required to present at the end of the competition a report in two parts (Investment plan & Investment report). The report to be submitted at the end of the competition carries 30% of the marks, the remaining 70% being allocated to the profits realised on the investment portfolio.
Communique from the Registrar of Companies on the Filing of Financial Statements in XBRL format by Listed Companies
The objective of dual currency trading is to offer investors the option to trade foreign currency denominated securities (USD, Euro, GBP and ZAR) in Mauritius Rupee (MUR) also. At the request of the respective issuers, SEM will allow securities that are denominated in foreign currencies, to be traded:
(i) in their underlying primary currency, which is the currency in which the security is issued
(ii) and in the local currency, namely the Mauritius Rupee (MUR).
On Monday 19 September 2016, Sunil Benimadhu, CEO of the Stock Exchange of Mauritius touches on the Mauritian economy and talks on SEM's multi-pronged internationalisation strategy moving away from the traditional domestic-equity-focused Exchange and hence the split of listings on SEM today overwhelmingly consisting of international issuers and a broader range of ETFs and structured products, listed and traded in USD, Euro, GBP and ZAR. Sunil said that this is expected to increase over time, confirming the internationalised status of the SEM over time. As SEM also aspires to emerge as a capital raising platform for Africa-focused investments routed through the Global Business Sector, the SEM platform will growingly be used to channel investment flows from SA/Europe/Asia into Africa.
This interview takes place at at the Nasdaq Market Site (location for the Nasdaq Market Bell Ceremonies) in the "Crossroads of the World" located in the heart of New York City - Times Square, The Nasdaq MarketSite is an event space as unique as the 3,600 companies that list on the Nasdaq Stock Exchange. Showcasing its brands is its Impressive Digital Billboard, the Nasdaq tower and two broadcast studios that hosts the Nasdaq Opening and Closing Bell Ceremonies, over 175 live television broadcasts, and events.
The Stock Exchange of Mauritius (SEM) is pleased to announce the launching of a new Total Return Index, SEMTRI-ASI, on the 10th of October 2016 , following the recent launch of the SEM All Share Index (SEM-ASI) on September 12, 2016. The new index will track the price performances of SEM-ASI's constituents and assume that the dividends paid by these constituents are reinvested in the same underlying constituents .
The Stock Exchange of Mauritius is pleased to announce the launching of two new indices, the SEM All Share Index (SEM-ASI) and the SEM Volume Weighted Average Price Index (SEM-VWAP) on September 12, 2016. In the light of the introduction of SEM-ASI, some consequential changes are being brought to two of SEM’s current indices, namely the SEMDEX and the SEMTRI.
SEM All Share Index (SEM-ASI)
In the wake of SEM’s internationalisation efforts post-2008, a number of Global Business Companies Category 1 (GBC 1) and other international products have been listed on the Exchange’s platform. The performances of these GBC 1 companies have, so far, not been captured by SEM’s existing indices. With a view to acknowledging the contribution of GBC 1 companies and foreign-currency denominated international companies to its internationalisation strategy, the SEM is creating the SEM All Share Index (SEM-ASI). SEM-ASI will include the current constituents of SEMDEX but will also be comprised of foreign-currency denominated (USD, EURO, GBP and ZAR), GBC 1 and international companies. The inclusion of these new constituents will not only boost SEM’s market capitalisation (by Rs 105 billion as of 31st August 2016), but will also give a better reflection of the effective size of our market and enhance the profile of Mauritius as an International Financial Centre.
SEM- Volume Weighted Average Price (SEM-VWAP) Index
The SEM is also launching the SEM Volume Weighted Average Price Index (SEM-VWAP) on the Official Market which is calculated based on the Volume Weighted Average Price Index (SEM-VWAP) of ordinary shares forming part of SEM-ASI.
The calculations of SEM market indices are based on the last traded price of securities. The SEM VWAP Index provides a new dimension through the use of volume weighted average price as a basis for the calculation of the index.
Consequential Changes to the SEMDEX and SEMTRI
In the light of the introduction of SEM-ASI, some consequential changes have been brought to two of SEM’s current indices, namely the SEMDEX and the SEMTRI.
SEMDEX as from 12th September 2016 solely focuses on tracking the price movements of rupee-denominated companies which meet SEM’s free-float requirements as defined in the Listing Rules of the Official Market.
SEMTRI as from the 12th September 2016 tracks the evolution of the new version of SEMDEX, which are comprised of Mauritius-Rupee-denominated constituents only.
On the 10th of October 2016, the SEM is launching a new Total Return Index, SEMTRI-ASI, which tracks the evolution of SEM-ASI’s constituents.
> On 23 May 2016, the Stock Exchange of Mauritius (SEM) lists the CoreShares S&P500 ETF, the first S&P500 product to be listed on an African Exchange. Also listed on SEM same day is the CoreShares S&P Global Property40 Index,the first of its kind worldwide.
. CoreShares S&P 500 ETF
This ETF is launched by CoreShares, a South Africa based company which has listed a number of ETF’s on the JSE. Though this easily accessible and liquid product, Mauritian investors will have access to 500 of the largest U.S bases companies and benefit from any future potential growth of these companies. It is the first S&P 500 product to be listed on an African Stock Exchange.
. CoreShares S&P Global Property 40 Index
This ETF is the first of its kind worldwide. It will track the performance of the 40 largest worldwide companies involved in the real estate sector at the global level.
> On 05 April 2016, the Stock Exchange of Mauritius (SEM) launches the publication of financial data reports on listed companies on SEM's website, in collaboration with Care Ratings which a leading rating agency in India.
The Stock Exchange of Mauritius (SEM) won for the third time in five years, the "Most Innovative African Stock Exchange of the year Award" at the Institutional Investment Capital Market Awards 2015 organised by Africa investor (Ai), a leading international research and communication group. The Award was presented to the SEM at Thomson Reuters in New York on 25th September 2015.
The Stock Exchange of Mauritius (SEM) joins the United Nation’s (UN) Sustainable Stock Exchanges initiative (SSE) as a Partner Exchange on 25 September 2015. The announcement was made at the SSE Leader’s Luncheon held at the New York Stock Exchange on the eve of the launch of the UN’s Sustainable Development Goals.
SEMSI has an integrated approach and takes into consideration all four key pillars of sustainability (economic, environmental, social and corporate governance). The SEMSI criteria of eligibility are based on the Global Reporting Initiative G4 Guidelines and are aligned with international ESG and related sustainability norms, while also taking local imperatives into account. The criteria are intended to be updated and developed over time, with the aim of encouraging constant improvement in sustainability performance.
The areas of co-operation under the MoU will encompass education, training and knowledge transfer in securities markets, product development and indices creation as well as capacity development in the field of surveillance and investigation.
SEM Chief Executive Presentation covering: Strategic shift underway at SEM, Recent initiatives to internationalise the SEM and move-up the value-chain of products; Concrete outcome of the recent initiatives; Extending recent initiatives to embrace the listing of a wider range of products to list on SEM; Introduction of the new Chapter 18 to the Listing Rules concerning specialist debt products and GBL 1 companies, along with potential advantages of such listings on SEM.