Africa IPO round-up
Roundup of some recent initial public offers (IPOs) of shares which raised capital for businesses listed on Africa’s stock exchanges.
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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).
The Rwanda Stock Exchange is expecting 3 IPOs in the coming months, to bring the equities listed for trading to 10.
The Enterprise Growth Market for small and medium size businesses is picking up momentum on the Dar es Salaam Stock Exchange and Mwalimu Commercial Bank Plc was the fourth listing on 27 November.
Africa’s growth is slowing dramatically, says the International Monetary Fund, and is likely to be 3.75% this year and 4.25% next year. It could get worse if the global economy does not grow.
Brokers on the Ghana and Nigerian Stock Exchanges in July achieved a first cross border securities trade under the stage “sponsored access” of West Africa’s capital markets integration first launched 2013. This opens the way for more cross-border deals.
All 4 Namibian stockbrokers have switched their front-end links into the local bourse to the trading solutions supplied by IRESS, a leading global supplier of innovative securities, financial markets and wealth management technology.
The Zimbabwe Stock Exchange started using its automated trading system (ATS) successfully on 6 July with rising volumes. It is a long-awaited change as the boursed move away from call over.
The Zimbabwe Stock Exchange (ZSE) has announced that it did not launch electronic trading today as planned and this has been delayed indefinitely.
Electronic share trading is to go live today, 3 July, at the Zimbabwe Stock Exchange. There are new trading hours and only dematerialized securities can trade.
The Dar es Salaam Stock Exchange (DSE) aims for an IPO in 6 months followed by listing and calls for lead transaction advisor, stockbroker and other experts by 21 July
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