The bourse wanted to raise 7.5bn/- with a
10 per cent green shoe that equals 750m/-. However, DSE ended up
collecting 35.77bn/- which was oversubscription of 377 per cent in
excess of the targeted capital or 4.77 times the anticipated amount.
DSE said in a statement yesterday that
the approval pave the way for the Dar bourse to self-list next Tuesday
becoming the third bourse to do so in Africa - after Johannesburg and
Nairobi exchanges.
“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 statement
said.
Also CMSA has agreed on the DSE request
to grant in full all investors who applied for 10,000 shares or placed
5.0m/-and less and above that to enter into pro-rata process.
“Applicants for the first 5.0m/- or
10,000 shares will get full allocation (while those) above 5.0m/- or
10,000 shares will be allotted on pro-rate basis,” the statement
revealed.
For DSE staff, CMSA also said they got
full allocation of 3.0 per cent of issued shares. Following the
allotment, processing of refunds will therefore be completed by Friday
and listing on next Tuesday.
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.
Meanwhile, DSE Chief Executive Officer
Mr Moremi Marwa said in his Quarterly Report Note that the bourse
achieved two other major milestones—IPO and admitted as a Partner
Exchange of the United Nations Sustainable Stock Exchanges (SSE)
initiative.
The SSE is a voluntary commitment to
promote long-term sustainable investment, and to improve environmental,
social and corporate governance (ESG) disclosure and performance of
listed companies. DSE has joined 55 other SSE Partner Exchanges
worldwide committed to the said objective.
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