Innovative African IPO and listing successes show strong demand
A round-up of recent African IPOs and other listings, many over-subscribed, shows demand and innovation – Namibia scored its first SPAC and Mauritius listed GDRs.
A round-up of recent African IPOs and other listings, many over-subscribed, shows demand and innovation – Namibia scored its first SPAC and Mauritius listed GDRs.
Rand Merchant Bank’s (RMB) Where to Invest in Africa 2018 report shows changes in the top investment destinations in Africa. Egypt is the new number 1, pushing South Africa to 2nd, while Nigeria and Algeria crashed out of the top 10. But African countries are still at the lower end of global performance as investment destinations.
Zimbabwe Stock exchange continues to soar, with gains of 9.3% yesterday (14 September) in its industrials index which closed at 379.95, up by 163% this year.
Vodacom Tanzania’s extended $213 million IPO closed 28 July and results are to be announced 7 August, with the listing on the Dar es Salaam Stock Exchange due 15 August.
The Namibian Stock Exchange and the central Bank of Namibia are working together to create a central securities depository (CSD) for equities, bonds and bills traded. They are waiting for laws and regulations to be passed to get the new system operational.
Some 40,000 Tanzanians subscribed for the TZS476 billion ($213 million) initial public offer (IPO) of Vodacom Tanzania Ltd.
The extended deadline for the initial public offer (IPO) of I&M bank Rwanda is 10 March. The Government of Rwanda is selling its 19.8% stake with an offer of 99m shares at RWF90 ($0.11) each.
Here is my article on a critical area for Africa to develop, creating the atmosphere for productive investments by fast-growing pension funds. Published in African Banker magazine.
Capital Markets Authority (CMA) Uganda has been admitted by International Organisation of Securities Commissions (IOSCO) as signatory to Appendix A of Multilateral Memorandum of Understanding (MMoU).
Roundup of some recent initial public offers (IPOs) of shares which raised capital for businesses listed on Africa’s stock exchanges.
West Africa’s Bourse Regionale des Valeurs Mobilieres (BRVM), based in Abidjan, is talking to Toronto Stock Exchange and aims to have a dedicated section for mining ready for business by 2018.
Rwanda Stock Exchange (RSE) and the African Securities Exchanges Association (ASEA) will host the 20th Annual ASEA Conference in Kigali, Rwanda on 27-29 November, the flagship event for Africa’s capital markets.
Trading has been fast and furious in the shares of Dar es Salaam Stock Exchange PLC, which self-listed at 9am on 12 July. The first day of trading saw the shares open at TZS 500 each and soaring as high as TZS 1,000 and trading again scorched today (13 July).
Total bids for the initial public offer (IPO) of shares in the Dar es Salaam Stock Exchange PLC was TZS35.8bn ($16.4m). This is 4.8 times the offered amount of TZS7.5bn ($3.4m) in the IPO which closed on 3 June. The DSE will self list on 12 July.
In New York 30 US frontier investors, stockbrokers and market specialists joined Edoh Kossi Amenounve, CEO of the West African regional exchange BRVM, to give their inputs to strategy development for the fast-growing stock market.
The Dar es Salaam Stock Exchange Plc will launch its initial public offer soon, after completing the demutualization. The Capital Markets and Securities Authority, said the bourse can raise TZS 7.5 billion ($3.4 million) by issuing 15 million ordinary shares at TZS 500 each.
The International Finance Corporation continues its programme of helping develop African debt markets by launching the first bond by a non-resident issuer in Namibia. It raised NAD 180 million (about $12m) which it will use for private sector development.
Sudan’s Khartoum Stock Exchange inaugurated its electronic trading system on 24 March, which is funded by the African Development Bank.
Law firm Baker & McKenzie forecasts that African initial public offers (IPOs) of shares will raise over $3.1 billion in 2016 with 15 IPOs in the pipeline.
The Namibia Financial Institutions Supervisory Authority (NAMFISA) has been accepted as an associate member of the International Organization of Securities Commissions (IOSCO).
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