DSE announces IPO of 15,000,000 shares
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.