Maldives Tourism Development Corporation makes 35m in two weeks

Posted on July 18, 2006, Updated on March 15, 2024 by My Maldives

Maldives Tourism Development Corporation, MTDC, has raised Rufiyaa 35m (US$2.7m) in equity sales within the past two weeks.

The company within the period sold a total of 353,658 shares in the securities trading floor.

Until Tuesday MTDC sold a total of 302,365 shares of the company in the securities trading floor.

MTDC earlier said that people were keen to buy shares of the company. Last week MTDC received thousands of applications from potential buyers.

On Tuesday alone MTDC sold 35,399 shares of the company and received 753 applications on the same day. MTDC raised a total of Rufiyaa 3.54m from its equity sales on Tuesday.

Within a week since it started selling equities MTDC sold 40,297 shares raising a capital of Rufiyaa 4.03m.

MTDC was floated in the securities trading floor on July 2. The company will raise capital from equity sales until July 31.

MTDC was established by the governement of Maldives to develop several islands as tourist resorts in Maldives.


Haama News

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