October 6, 2011

Capital raising

Precision Air IPO launches tomorrow in Tanzania

The Initial Public Offering (IPO) of 58,841,750 shares at TSh 475 (US$ 28 cents) each in Tanzania’s Precision Air Services is set to start on 7 October and continue to 28 October, aiming for a listing and trading on the Dar Es Salaam Stock Exchange from 8 December.

Exchange news

Rencap bidding to take over Zimbabwe stockbroker?

Media report that Renaissance Capital (RenCap), a unit of Russian investment bank Renaissance Group, is drawing closer to a takeover of one of Zimbabwe’s largest stock-broking firms, Lynton Edwards Securities.