The 8,000 new clients of the Stock Exchange of Mauritius who obtained shares of the Lottotech are now in a dilemma. The shares used to be listed at Rs 10 – that was back in May 2014. Now, they are at Rs 3.30.
The individuals having placed their money under the packages of the BAI want their money back, or at least, part thereof. In a statement reported by l’Express.mu, one of the individuals involved says that the current government has caused them to lose much money. On the other hand, the Minister of Finance is not apologetic. Rather, he justifies the measures arguing that the “nation zougader” should not have been encouraged any further.
The Stock Exchange of Mauritius had received a total of 12,385 subscribers for 254 234 986 shares (85 000 000 put up to sale) resulting in an amount of Rs 2 538 290 917.
Of the 85 000 000 shares, 68 000 000 (at Rs 10) were reserved for the public while 17 000 000 (at Rs 9.50) were for retailers of Lottotech, directors and employees of companies part of the Gamma Civic and the State Investment Corporation Ltd.