Seychelles Securities Exchange

Equities Market

Main Board

The Main Board is aimed at issuers that have been in operation for at least three years and can provide a minimum of three year’s externally audited financial statements. 

 Small and Medium Enterprise Board

The SME board is aimed at small to medium sized companies with at least one year’s audited financial statements. No profit history is required at the time of listing. A minimum of 15% of issued shares must be held by the general public and the company must also have at least two executive directors. An entrepreneur with proven business acumen and a solid management team, or a young and fast growing business or even a family owned business would benefit from a process that offers a regulated framework as with the SME board.

 Venture Capital Board

The VCAP Board is aimed at companies considered to be a start-up company with little or no operating history that have the potential for high growth. All funds relating to an IPO or placement must be placed in an escrow or trust account and outward transactions must obtain approval of both the issuer and its Sponsor Advisor according to the funding milestone timetable. 


Venture Capital


Small and Medium


Main Board


Minimum Public Shareholders

A minimum of 10% by a minimum of 5   persons.

A minimum of 15% by a minimum of 20 persons.

A minimum of 25% by a minimum of 60   persons.

A minimum of between 25 and 100   shareholders dependent on capital raised.

Lock-in Period

Funding Milestones based

Six months

No requirements

Until qualifying acquisition

Executive Directors

Minimum two

Minimum two

Minimum two and One Non-Exec

Minimum two

Financial Statements

No Profit history but five year   projections.

One year audited financials.

Three year audited financials.

No Profit history.