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| DSE |
Investment income amounted to TZS477m in Q3 2016, compared to TZS73m in Q3 2015 (+270%) and TZS129m in Q2 2016 (+553%).
The DSE net profit rose to TZS574m in Q3 2016 from TZS395m in Q3 2015 (+46%) and TZS286m in Q2 2016 (+101%).
“The DSE expects continued growth backed by trading, listings and investment activities,” the DSE Q3 financial statement indicates.
Dar es Salaam Stock Exchange
In 1996, the Dar es Salaam Stock Exchange (DSE) was incorporated as a private company limited by guarantee (a non-profit making body) and became operational in 1998.
In 2015, the DSE was demutualized, i.e. it changed its registration status from being limited by guarantee to being limited by shares.
Moremi Marwa, CEO of DSE, explained that the bourse aims at maximizing the value of investment through the process of demutualization. In May 2016, the DSE launched its own IPO of 15m ordinary shares at TZS500 per share.
The Tanzanian bourse raised TZS35.8b from more than 3,000 investors, which is equivalent to 377% in excess of the targeted capital.
Following the oversubscribed IPO, the bourse exercised the green shoe option of 35% to take up an additional TZS2.6b.
After exercising the option, the total capital raised from the DSE IPO is TZS10.1b. In July 2016, following the successful DSE IPO, the Tanzanian bourse listed itself at the secondary market under the ticker “DSE”.
Source: TanzaniaInvest