The Maldives Stock Exchange (MSE) has made a significant announcement regarding the inclusion of the Government of Maldives’ Treasury Bonds on its Main Board. This listing, valued at MVR 50 million, is historic as it represents the first-ever Government security to be featured on the Exchange.
The government is dedicated to fostering the growth of the domestic capital market in alignment with its Medium-term Debt Management Strategy.
The Treasury Bonds, carrying a coupon rate of 5.5% per annum and set to mature in December 2028, were successfully introduced with 50,000 bonds at MVR 1,000 each. This listing highlights the Exchange’s status as a well-established marketplace, expanding investor opportunities in Treasury instruments through secondary market trading.
The new listing elevates the total value of debt on the Main Board of the Exchange to MVR 1.2 billion. Dr. Mohamed Shafeeq, Minister of Finance, expressed, “This listing marks a historic achievement in developing the domestic securities market. It opens doors for individuals and businesses of all sizes to engage with government securities in the secondary market. I hope this paves the way for a dynamic secondary market in the Maldives.”
Aushan Latheef, CEO of the Maldives Stock Exchange, commented, “We are delighted to welcome the inaugural listing of Government Treasury Bonds on the Maldives Stock Exchange. This underscores our role as a well-established marketplace and showcases the strength of the domestic capital market. It also provides investors with access to Treasury instruments through secondary market trading. We extend our sincere appreciation to the Ministry of Finance and CMDA for their commitment to sustainable market development.”
The Maldives Stock Exchange Company Pvt. Ltd (MSE) and its subsidiary, the Maldives Securities Depository Company Pvt. Ltd (MSD), are private sector institutions regulated by the Capital Market Development Authority (CMDA) to oversee the market for listed securities in the Republic of Maldives. The Exchange lists Shares, Conventional Bonds, and Sukuk (Islamic Bonds).
With over 15 years of operation, listed issuers have raised MVR 3.08 billion (equivalent to USD 199.5 million) through Public Offerings.
Currently, the Main Board of the Exchange showcases a Treasury Bond issuance of MVR 50 million, along with four Corporate Bond issuances of MVR 753 million and four Sukuk issuances of MVR 406 million.
The Viyana Board (Private Securities Segment), launched in September 2022, features listings of three Corporate Bonds totaling MVR 187.5 million and one Sukuk issuance of MVR 20.48 million. MSE expresses gratitude to the Ministry of Finance and CMDA for their support in achieving this milestone.
