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) will start at 9.30am on Monday, 16th May, 2016 and will be commemorated by an official launching event on the day starting at 9:30am at the Dar es Salaam Stock Exchange PLC offices located at Golden Jubilee Towers, 14th Floor, PSPF Building, Ohio Street. 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 self-listing 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.
This offering is being made only by means of a prospectus. Copies of the prospectus relating to and describing the terms of the offering are available at DSE’s offices; on the DSE website www.dse.co.tz; at the offices of all licensed stock brokers as our receiving agents; and in various CRDB branches and offices.
Timetable for the IPO exercise is as follows:-
| Timetable of Principal Events
|
|
| Activity
|
Time |
| Offer Opens
|
16th May 2016 |
| Offer Closes
|
3rd June 2016 |
| Allotment
|
10thJune 2016 |
| Announcement of Results of the Offer
|
16th June 2016 |
| Electronic crediting of CSD Accounts
|
24th June 2016 |
| Processing of refunds cheque
|
30th June 2016 |
| Self-Listing and commencement of trading fully paid DSE shares on the Exchange | 12th July 2016 |
Mode of Payment
Payment shall be made at the following offices:
- All Branches of CRDB Bank PLC
- DSE Licensed Dealers
- MAXMALIPO
- Mobile Trading by dialing *150*36# and selecting “Buy DSE Shares”
For more information, do read the prospectus issued by Dar es Salaam Stock Exchange PLC. This document will be available at DSE Offices; Licensed Stock Brokers and CRDB branches, and is also posted on the DSE website www.dse.co.tz. Prospective investors are advised to read the document and obtain professional advice regarding the IPO prior to investing.
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