Pretoria - Mara Delta, the Pan African focused real estate fund with primary listings on both the JSE and Stock Exchange of Mauritius, has become the first company to use the dual trading facility on the Stock Exchange of Mauritius. The company said on Friday that its shares would from Monday be traded in its primary currency of US dollars as well as in the Mauritian rupee.
It said the ability to trade the shares in Mauritian rupees would provide a broader base of investors by allowing the general public in Mauritius to trade in Mara Delta shares without the requirement to hold US dollar facilities.
This initiative, together with the increased number of shares in issue on the Stock Exchange of Mauritius, would allow for increased liquidity of the shares on the Stock Exchange of Mauritius, it said.
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Mara Delta added that its shares would initially be quoted at the dollar trading price converted to Mauritian rupees at the prevailing dollar/Mauritian rupee exchange rates today, with market trading thereafter determining the ruling price.
It expected that a minimum of 100 000 shares would be available for trade in Mauritian rupees on the first day of trading.