Nairobi Securities Exchange scores megaprofits and heads for own IPO and listing
The Nairobi Securities Exchange passed key resolutions to take its demutualization into final stages, after scoring record profits for the financial year to 31 Dec 2013 and paying its first dividend to shareholders.
EFG Hermes says 3 IPOs coming to Egyptian Exchange this year
Three new initial public offer (IPO) share flotations with a total value of over $300m are planned for the Egyptian Exchange this year, says bank EFG Hermes.
Tunis Stock Exchange IPO is largest listing
The listing of Société d’Articles Hygiéniques (SAH), on the Tunis Stock Exchange on 9 Jan after a private placement and an oversubscribed initial public offer (IPO) is the largest listing on the Tunis bourse, valuing the company at $163.5 million.
Regulators discuss East African bookbuilding and stockbroker licences
The regional forum, the East African Securities Regulatory Authorities (EASRA), is seeking to create a harmonized licensing framework for the region for brokers and dealers, and has also approved draft regulations on book-building for adoption by its members. The draft book-building regulations are to be shared with stakeholders in the member States and their views […]
Umeme power company IPO share offer: UPDATE AND CORRECTION
The Initial Public Offer by power company Umeme closed on 7 November and results are expected before the listing on 30 November. Before the close, commentators said there was a turnup of applications and that the International Finance Corporation had invested, but parliamentarians called for an inquiry.
Uganda’s power distributor Umeme says it plans Nairobi and Uganda IPOs this year
Uganda’s only power distributor, Umeme, said it plans to raise capital to invest in Uganda’s electricity sector through an initial public offering (IPO) on the Ugandan and Nairobi securities exchanges later in 2012
JSE seeks more African equity listings in 2012, targets telecoms, mining and financials
The JSE Ltd, South Africa’s securities exchange, is hoping to attract more listings from the rest of Africa in 2012 and to expand its range of products and services. This year should also see the JSE installing its equity trading system in Johannesburg, to avoid dependence on a transatlantic cable connecting it to the London Stock Exchange.
East African investors opening accounts at Nairobi Stock Exchange
The number of investors from other East African countries opening trading accounts at Kenya’s Nairobi Stock Exchange is still very small, but has grown more consistently in the last 2 years than other categories of investors.
African Stock Exchanges Association conference tackles key issues
Developing Africa’s securities exchanges is critical for the continent’s development, with capital markets standing between huge demand for capital for growth and huge demand to invest. The key issues are on the agenda of The 15th Annual African Securities Exchange Association conference (in Marrakesh, Morocco), hosted by Casablanca Stock Exchange, 12-13 December.
Mobius remains bullish on Nairobi Securities Exchange, says FT
Mark Mobius, veteran emerging markets investor and head of Templeton Emerging Markets, is bullish about the Nairobi Securities Exchange (NSE), although it is the worst-performing stock market in sub-Saharan Africa this year, according to the Financial Times.
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.
Kenyan IPO only 60% subscribed but regional plans go ahead
Kenyan financial services firm British-American Investments Company Ltd. said on 23 August that its initial public offering (IPO) had only attracted 60.09% of the targeted KSh5.85 billion ($63million).
Casablanca Stock Exchange grants to encourage SMEs
Morocco’s Casablanca Stock Exchange is offering grants to small and medium enterprises to encourage them to raise capital. The first listing of 2011 was 8.7x over-subscribed.
Tunis Stock Exchange seeks to support growth
The Bourse des Valeurs Mobilières de Tunis (BVMT – Tunis Stock Exchange), aims to support role in faster economic growth and has a 5-point development strategy. A share offer in May was 3.2 times oversubscribed.
Dar Es Salaam bourse aims for IPO and 2 cross listings, capital controls easing
The Dar Es Salaam Stock Exchange aims to increase to 18 listed companies and is preparing for an initial public offering (IPO) for Precision Air during September and cross-listings of 2 mining firms listed in London. Tanzania is also set to ease controls on the amount of shares foreigners can buy.
Tullow Oil listing to double value of shares on Ghana Stock Exchange
Tullow Oil plc is to start trading on the Ghana Stock Exchange on 27 July after allocating 3,531,546 ordinary shares of 10p each in a successful offer. The company says this is the largest primary share offer completed on the GSE and will more than double the market capitalisation.
British American Investment launches Kenya IPO
British American Investment Company (Kenya) Ltd launched its initial public offer (IPO) this week. It aims to raise KES 5.58 billion (US$62.2 million) for expansion. The offer is open until 5 August, and it to list its shares on the Nairobi Stock Exchange.
Listing of Tunisie Telecom cancelled
Tunisie Telecom has cancelled plans for a joint initial public offering on the Paris and Tunis stock exchanges after consultations with trade unions following several changes of Government in recent weeks and the resignation of the former president.
Rwanda Stock Exchange opens with brewery IPO
Africa’s newest stock exchange is the Rwanda Stock Exchange (RSE), launched on 31 Jan to start trading the shares of brewer Brasseries et Limonaderies du Rwanda BRALIRWA. The exchange replaces the Rwanda-Over-The-Counter (OTC) market which has operated since 31 Jan 2008.
Algiers Stock Exchange: Results of Alliance Assurances IPO offer
Results have recently been released of the share offer of insurance company Alliance Assurances on the Algiers Stock Exchange. The share offer was open from 2 November until 1 December and was oversubscribed, with private individuals flocking to receive the shares. Alliance aims to be the first private company to list on the Bourse d’Alger. A total of 1,804,511 shares were subscribed, the full amount offered, at a price of 830 Algerian dinars (USD11.17) each.