The market capitalization of Maldives Stock Exchange (MSE) based on all its listed corporations had reached MVR 16.12 billion, according to the local stock market platform.
Chairman of MSE Alaau Ali made the announcement on Tuesday night at the ceremony held to celebrate the corporation's 10th year anniversary.
In his speech Ali shared the challenges and obstacles the corporation had experienced since its inception. MSE's chairman noted that 10 years back when the corporation started its operations in 2008 it had listings of 4 local ventures.
While the market capitalization topped at MVR 15.4 billion by January 2018, the valuation of the stock exchange back in 2008 reached a mere MVR 2.4 billion.
"I welcome everyone for this achievement, this is a significant milestone for everyone involved," Ali said on Tuesday's ceremony.
However he emphasized on the importance of expanding the stock market further.
Chief Executive Aushan Latheef had urged local corporations to enroll into the stock exchange - he mentioned with the hopes of expanding the listings by two-fold.
Maldives Stock Exchange currently enjoys a total of 9 listings from various fields, including the multinational telecom corporation Ooredoo.
