The Dar es Salaam Stock Exchange (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.
DSE intends to list its shares on the market’s main segment for trading on July 12.
