08.14.13

Sacos Trades for 1st day as Seychelles Exchange opens

Posted in Seychelles government at 1:44 pm by Robert Klien

Sacos Group, a formerly state-owned insurance and property investment business, became the 1st company to start trading its shares on the Seychelles’ stock exchange on August 8, 2013.

According to data compiled by Bloomberg, the jurisdiction’s biggest insurer in the Seychelles, closed trade at 68 Seychelles rupees on the Seychelles Securities Exchange.

Pierre Laporte, the country’s finance minister said: “This is a very exciting moment for Seychelles, the launch of the first day of trading for the Seychelles Securities Exchange”. He also added that “the development of capital markets for Seychelles reflects the great steps that Seychelles has taken in our economic reform agenda.”

The government of Seychelles owns 20% of the company while Opportunities Investment has 37.1%, it said earlier this year.

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