July 3, 2012 / 10:32 AM / 5 years ago

Mauritius bourse approves Bharat Telecom listing

PORT LOUIS, July 3 (Reuters) - The Stock Exchange of Mauritius has approved the listing of internet service firm Bharat Telecom, paving way for its 16.7 million shares to trade on its secondary market.

The shares will start trading on July 11 on the Development and Enterprise Market, when 50,000 shares will be offered at an indicative price of 50 rupees, SEM said on Tuesday.

The internet service provider plan to invest $50 million to roll out 2,900 km of fibre network, which could cover up to 70 percent of the population of Mauritius. ($1 = 30.95 Mauritius rupees) (Reporting by Jean Paul Arouff; Editing by Dan Lalor)

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