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.
Tunisie Telecom aims to list on Tunis and Paris stock exchanges
Tunisie Telecom has announced the first stage of registration with the aim of listing on the Tunisian stock exchange Bourse de Tunis and NYSE Euronext Paris with a reference document filed with regulators in Tunis and France on 17 December.
Templeton’s Mobius tells Reuters he picks Nigeria
Templeton fund manager Mark Mobius picks China and Nigeria as tips over the next 12 months, according to an interview with Reuters. Mobius oversees more than $40 billion as chairman of Franklin Templeton’s Emerging Markets Group.
BRALIRWA, first Rwandan IPO, launches tomorrow
The Rwandan Government said today (22 November) that it aims to raise RwFr 22.1 billion (US$37.3 million) from the sale of its 30% stake in brewer BRALIRWA, according to Reuters. The country’s first initial public offering will run from 23 November to 17 December.
Lontoh Coal considers Hong Kong IPO reportedly “to avoid Zimbabwe sanctions”
Lontoh Coal ,a South African unlisted mining company with projects in Zimbabwe, wants to do its next public offer in Hong Kong, according to a Reuters report. The initial public offer (IPO) aims to raise up to $500 million. According to the report Lontoh chief executive Tshebo Kgadima said he had chosen to list in Hong Kong as it might have been difficult for his company to sell shares in New York or London as the United States forbids trade or investment with Zimbabwean firms linked to the country’s president Robert Mugabe.