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PRESS RELEASE: ENHANCEMENT OF GREEN SHOE OPTION AND ALLOTMENT OF SHARES OF THE DAR ES SALAAM STOCK EXCHANGE PLC (DSE)

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 DSE IPO raised TZS 35,768,796,000. This is equivalent to 377% in excess of the targeted capital or 4.77 times the anticipated amount.

Following the announcement of results of the DSE IPO an official request was submitted to the Capital Markets and Securities Authority (CMSA) for the enhancement of the green shoe option from 10% (i.e. TZS 750,000,000) to 35% (i.e. TZS 2,625,000,000).

The DSE is pleased to announce that it will exercise a green shoe option of 35% allowing it to take up an additional TZS 2,625,000,000 above the initial targeted capital of TZS 7,500,000,000. The total capital raised from the DSE IPO will therefore be TZS TZS 10,125,000,000.

DSE had also requested for the regulator’s approval of the following allotments:
 

  1. Applicants for the first TZS 5 million (10,000 shares) will get full allocation;
  2. Applicants above TZS 5 million (10,000 shares) will be allotted on pro-rate basis; and
  3. Full allocation of 3% of issued shares to DSE staff.
The DSE is also pleased to announce that the proposed allotment has been approved.

Following the allotment, processing of refunds will therefore be completed by Friday 7th July 2016.

The allotment of shares, electronic crediting of CSD accounts and processing of refunds will all be completed by Monday 11th July, 2016 at 5:00pm.

The self-listing and commencement of trading of DSE shares on the Exchange will be done on Tuesday 12th July, 2016 at the Dar es Salaam Stock Exchange PLC offices located at Golden Jubilee Towers, 14th Floor, PSPF Building, Ohio Street.

The DSE intends to self-list its shares on the secondary market in the Main Investment Market (MIMS) segment under the ticker “DSE” 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.

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