On the 31st July, the Mauritian financial sector took a big step forward through the listing of the first ever local company, GRIT, on the London Stock Exchange (LSE), one of the most important stock exchange platforms in the world. We spoke to Oliver Hare of AXYS Corporate Advisory, which acted as GRIT’s Lead Global Transaction Adviser and AXYS Stockbroking as the Mauritian Placing Agent on this operation.

“This complex deal shows the capability of the group”, says Oliver Hare. Indeed, the involvement of AXYS in this deal has been a key feature in the listing of GRIT on the main board of the LSE. Key personnel of the AXYS team in Mauritius, Dubai and London had worked on this project for almost one year.

“As GRIT’s partners, we advised and co-ordinated the selection of the relevant accounting, legal and real estate valuation companies. We helped in facilitating the links between UK and Mauritian service providers, advised on the brokers and placing agents, worked closely with lawyers, accountants, and real estate valuers to produce all the relevant documents for the listing, helped in the search for investors, and we accompanied GRIT in over one hundred investors meetings in London”, states Oliver Hare.

This complex operation was rendered even more difficult by the fact that the listing of GRIT on the LSE was a challenge in terms of timing, with the company being already listed in Mauritius and Johannesburg at the time. “We had various timelines to respect, and it was just one of the major challenges we had to face”, recalls Oliver. However, the success of this operations is a clear indicator of the maturing of the Mauritian financial sector, which is now more than ready to take on the bigger leagues.

“This deal has been a great source of joy and pride for all of us who participated in the operation. The perception of Mauritius has a solid financial player by the global experts has been enhanced thanks to this listing”, adds Oliver Hare.

Key personnel at AXYS that were involved in the transaction:

  • Oliver Hare – AXYS Corporate Advisory
  • Jeremy Steane – AXYS Corporate Advisory
  • Michel Guy Rivalland – CEO, AXYS
  • Melvyn Chung Kai To – AXYS Stockbroking

Contact:

T: (230) 405 4000

E:info@axys-group.com

W: axys-group.com