Riveo Limited has announced its listing on the Official Market of the Stock Exchange of Mauritius (SEM) starting Monday, 25 November 2024. This significant milestone is part of a strategic restructuring initiative undertaken by SUN Limited to optimise value creation and offer a more attractive proposition to its shareholders.
Founded on 23 February 2024, Riveo Limited positions itself as an investment company specialising in eco-responsible luxury hospitality real estate. The company focuses on enhancing the value of high-end real estate projects, with its revenue primarily derived from dividends generated by its subsidiaries, which include exclusive luxury hospitality operators in Mauritius:
- Anahita Hotel Ltd, operating as Four Seasons Mauritius
- SRL Touessrok Hotel Ltd, operating as Shangri-La Le Touessrok
- Loisirs des Îles Ltée, managing the lease of Île aux Cerfs, including its golf course and various leisure activities
These entities represent excellence in the sector, positioning Riveo at the forefront of growth and innovation.
On 25 October 2024, the SEM’s Listing Executive Committee approved the listing of 174,364,026 ordinary shares of Riveo, denominated in Mauritian rupees and with no nominal value. Investors will have the opportunity to purchase up to 1,000 shares on the first trading day at an indicative price of Rs 24.65 per share.
“The listing of Riveo Limited on the Stock Exchange of Mauritius reflects our commitment to creating value for all stakeholders. We focus on iconic destinations such as Four Seasons, Shangri-La Le Touessrok, and Île aux Cerfs, adopting sustainable management practices. Riveo stands out with its unique blend of international luxury brand expertise and SUN’s long-standing Mauritian heritage in hospitality management under its Sunlife brand,” said François Eynaud, CEO of SUN Ltd and Riveo Ltd.
About Riveo Limited
Riveo Limited emerged from a strategic restructuring through a Scheme of Arrangement approved by an overwhelming majority of SUN Limited shareholders and sanctioned by the Supreme Court of Mauritius. This initiative aims to transform and refocus SUN Limited’s activities to maximise shareholder value. Riveo’s listing on the stock exchange marks a major milestone in this strategy. Leveraging its subsidiaries associated with renowned brands, Riveo combines robust asset management with recognised operational expertise, ensuring solid and sustainable results.
