BY GEOFFREY NANGAI
EAST Africa Breweries Limited (EABL) mini-Independent Post Offering (IPO) that saw the regional listed brewer off load its 58,095,693 share stake in Tanzania Breweries Limited (TBL) at an offer price of 2,060 /- per share finally ends today.
EABL opened the mini-IPO a few weeks back having obtained the merger clearance from the Fair Competition Commission (FCC) thus completing the strategic acquisition of 51 percent of the issued share capital of Serengeti Breweries Limited (SBL) with the FCC clearance guaranteeing that EABL subsequently diversifies its shares in TBL.
Receiving agents during the mini-IPO were Solmon Stockbrokers Limited, National Bank of Commerce (NBC), Orbit Securities Company Limited, Core Securities, Tanzania Securities Limited, Rasilimali Limited, Zan Securities Limited and Vertex International Securities Limited.
A statement released by the company today morning (Friday) said details of the mini-IPO would be made public soon after compilation next week.
“Our mini-IPO ends today. We will immediately compile data of all the shares that have been traded during this time which will be made public soon,” the statement said.
The Orbit Securities Chief Executive Officer Lauren Malauri , the Lead Advisers of the mini-IPO when contacted to give a general over view of the exercise said it was too early to give actual records of the shares traded saying it is always culture for investors to make decisions during the last hours .
“Trading of the shares started on a very high note during the first days. Investors always have a tendency of waiting for the last hours to make a decision so we anticipate seeing more investor during the last day.
“We expect to see more corporates utilize the remaining chances by today evening,” Malauri said.
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