PRESS RELEASE: ANNOUNCEMENT OF RESULTS

PRESS RELEASE:
ANNOUNCEMENT OF RESULTS OF THE DSE INITIAL PUBLIC OFFERING
OF 15,000,000 SHARES BELONGING TO
DAR ES SALAAM STOCK EXCHANGE PLC

 

The DSE initial public offering (IPO) was conducted from Monday 16th May, 2016 to 3rd June, 2016 and aimed to raise TZS 7,500,000,000 from the offer of 15,000,000 shares at a price of TZS 500/= per share.
The results of the IPO show that the DSE has raised TZS 35,768,796,000. This is equivalent to 377% in excess of the targeted capital or 4.77 times the anticipated amount.
The excess funds raised beyond the request for an approved (plus anticipated) green shoe option will be refunded to investors on a pro-rated basis against the number of applicants.
As per the timetable of the IPO as documented in the DSE Prospectus, the official announcement of the results of the IPO today Thursday 16th June, 2016 at 9:00am at the Dar es Salaam Stock Exchange PLC offices located at Golden Jubilee Towers, 14th Floor, PSPF Building, Ohio Street. Following the completion of the refund process the DSE intends to self-list its shares on the secondary market in the Main Investment Market (MIMS) segment under the ticker “DSE” on 12th July and make its shares tradable.
The 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.


 
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
 
For more information, kindly read the prospectus issued by Dar es Salaam Stock Exchange PLC. This document will be available on the DSE website www.dse.co.tz.
 
ISSUED BY
 
Management
Dar es Salaam Stock Exchange