DSE Chief Executive Officer, Moremi Marwa
The sale of shares in Dar es Salaam Stock Exchange (DSE) to
the public was oversubscribed by nearly five times, the bourse said on
Thursday.
The DSE received bids worth 35.77 billion Tanzanian
shillings ($16.4 million) for the 15 million shares on offer worth a total 7.5
billion shillings, it said.
The exchange said it would accept an unspecified amount over
and above its target in what is known as a greenshoe option. The balance would
be refunded to applicants.
DSE intends to list its shares on the market's main segment
for trading on July 12.
"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," DSE said in a
statement.
Source: Reuters
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