DSE an­nounces IPO of 15,000,000 shares

The African - - MARKETS -

The Dar es Salaam Stock Ex­change PLC (DSE) is pleased to an­nounce to the pub­lic its ini­tial pub­lic of­fer­ing (IPO) of 15,000,000 shares at a price of TZS 500/= per share.

The Dar es Salaam Stock Ex­change PLC (DSE) has an­nounced its ini­tial pub­lic of­fer­ing (IPO) of 15,000,000 shares at a price of TZS 500/= per share.

The ini­tial pub­lic of­fer­ing (IPO) was ex­pected to start at 9.30am on Mon­day, 16th May, 2016 and com­mem­o­rated by an of­fi­cial launch­ing event on the day at DSE PLC of­fices.

The Of­fer will be open for 3 weeks and will of­fi­cially close at 4:00 pm on 3rd June 2016. Fol­low­ing clo­sure of the of­fer the DSE in­tends to self-list its shares on the sec­ondary market un­der the ticker “DSE” on 12th July and make its shares trad­able.

The Of­fer and planned self­list­ing is in line with the global trend and prac­tice for Ex­changes and is aimed at achiev­ing good cor­po­rate gov­er­nance prac­tices, ef­fi­ciency and ef­fec­tive­ness of the DSE and fur­ther strengthen its strate­gic and op­er­a­tional prac­tices. Or­bit Se­cu­ri­ties Com­pany Lim­ited is the lead trans­ac­tion man­ager for the pro­posed of­fer­ing and CRDB BANK PLC will be the re­ceiv­ing bank.

CEO of Dar es Salaam Stock Ex­change Moremi Marwa speaks at the IPO of­fer­ing event.

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