By Guardian Reporter , The Guardian
BANK counters transacted 1.23 million shares on the Dar es Salaam Stock Exchange (DSE) during the first two days of this week, which maintains its position as top moving stocks in the market.
The DSE daily market reports show, banking are the only stocks which have maintained an active consistence, with CRDB Bank counter leading the race.
During the first two days of this week, CRDB has moved more than 97 percent of banking stocks, after transacting 1.21 million shares valued 674m/-, which is 15 percent of the total turnover which has been recorded since the start of the current quarter.
NMB counter was the second mover among banking stocks, after transacting , after transacting 12,016 shares valued 56m/-, followed by DCRB counter and Maendeleo Bank Plc (MBP) counter.
Other than banking, other stock which recorded considerable transaction was Industry, whereby Tanzania Breweries Limited (TBL), the largest listed company on DSE transacted 200,120 shares valued 1.15bn/-, the largest valued transaction to be recorded since the start of the current quarter.
The largest deal was recorded on Tuesday, whereby TBL counter transacted 200,100 shares, of which 200,000 shares were traded through block trade and the remaining 100 were traded through normal trade at a price of 10,400/- per share.
During the first day of the week, a total turnover of 430m/- was recorded, whereby foreign investors participated in the market through selling shares valued 385m/-, which was 89.55 percent of total value of shares sold and bought shares valued 1.98m/-.
In the second day, ahead of Eid Al-Fitr holidays, the market recorded the turnover of 1.5bn/-, of which foreign investors participated though selling shares valued 1.4bn/- which was 93 percent of the value of all shares sold. All shares were bought by local investors.
According to the market report, a total turnover of 4bn/- has so far been recorded since the start of the second quarter, of which foreign investors have purchased shares valued 314m/- which is 7.85 percent of total value of shares bought.
The report shows foreign investors have participated in the market through selling shares valued 2.1bn/-, which is 51.02 percent of total value of shares sold.
Market analysts say they expected improved involvement of foreign investors, during the current quarter in buying shares in active counters as well as selling shares in dormant counters.
During the last quarter, foreign investors sold shares valued 26bn/- and bought shares 4.3bn/-.
Meanwhile, the DSE listed-Vodacom Tanzania Limited (VODA) has announced the completion of block acquisition of 284,984,314,284 ordinary shares in Smile Communication valued 68.8bn/- on a debt free cash basis.
In the public announcement made on Tuesday, Vodacom Tanzania said the deal involved the price/ consideration of 0.24144 per ordinary share, subject to adjustment. All acquired Smile’s issued and fully paid shares valued 1/- each.
“The Acquisition necessitates access to a combination of both coverage (sub-1GHz bands) and capacity bands (mid bands) for 4G and 5G by Vodacom Tanzania PLC to better roll-out a competitive 4G network service in Tanzania and ensure a best-in class customer service,” said the public announcement.
The announcement further said the acquisition was implemented on April 3, 2024 after the approval by Fair Competition Commission (FCC), Tanzania Communication Regulatory Authority (TCRA) and transfer of the ordinary shares by Brela.
Before the deal, Smile was operating 4G LTE mobile broadband networks in the 800MHz band in Tanzania, by offering nationwide Super-Fast mobile broadband services.
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