Dar es Salaam Stock Exchange (DSE), market capitalization has gone down by 4.0 per cent last week pulled down by several stock prices dipping.
The total market caps slid from 21tri/-of previous week to 20.2 tri/- of trading week that ended last Friday shaken by price dipping following supply to outpace demand.
For domestic market cap also sunk from 9.7tri/- to 9.4tri/- pulling down all indices for manufacturing, banking, and servicing industries.
The total market caps slid from 21tri/-of previous week to 20.2 tri/- of trading week that ended last Friday shaken by price dipping following supply to outpace demand.
For domestic market cap also sunk from 9.7tri/- to 9.4tri/- pulling down all indices for manufacturing, banking, and servicing industries.
The DSE, Projects and Business Development Manager, Patrick Mususa said though CRDB bank share were most traded stock last week, their share price dipped by 1.23 per cent to 400/-.
“This is pure example of supply exceeding demand,” Mr Mususa said yesterday. Last week CRDB led the exchange trading after seeing it share exchanged hands by 98.45 per cent, followed by TBL 0.75 per cent and Twiga Cement 0.34 per cent.
The equity prices also pulled down the indices where Industrial and Allied went down by 4.33 points, affected by Twiga cement slide by 0.75 per cent to 2,980/- and Simba cement 0.67 per cent to 2,630/-.
Banks, Finance and Investment went down by 113.23 points after NMB share slipped by 6.12 to 2,300/- and CRDB by 1.23points to 400.
“This is pure example of supply exceeding demand,” Mr Mususa said yesterday. Last week CRDB led the exchange trading after seeing it share exchanged hands by 98.45 per cent, followed by TBL 0.75 per cent and Twiga Cement 0.34 per cent.
The equity prices also pulled down the indices where Industrial and Allied went down by 4.33 points, affected by Twiga cement slide by 0.75 per cent to 2,980/- and Simba cement 0.67 per cent to 2,630/-.
Banks, Finance and Investment went down by 113.23 points after NMB share slipped by 6.12 to 2,300/- and CRDB by 1.23points to 400.
Also Commercial Services dipped by 16.75 points pulled down by Swissport share price drop of 0.55 per cent to 7,260/-.
However, while the market capitalization slide, the exchange turnover increased by 50 per cent from 4.4bn/- to 6.7bn/- in one week. While total shares sold during the week under review went up four times from 3.6 million to 12.8 millions.
Meanwhile, DSE top most priorities in this year’s quarter one include encouraging more listings, public education and awareness.
The DSE also said its demutualisation process is now at the final stage, after they submitted their IPO (Initial Public Offer) and self-listing application to the Regulator.
After the exchange received an approval the IPO and listing envisaged to be conducted before end of this Q1. Self-listing, or demutualisation, is the process through which a member owned company becomes shareholder-owned.
Frequently, this is a step towards the initial public offering (IPO) of company. The bourse was mutually owned by guarantee but is now called Dar es Salaam Stock Exchange Public Limited Company (PLC).
DSE, since its inception, operates as a ‘mutual’. In Africa, the first to make a self-listing move was the Johannesburg Stock Exchange in 2005, followed by the Nairobi Stock Exchange last year. Others, such as Mauritius Stock Exchange, have started the process.
However, while the market capitalization slide, the exchange turnover increased by 50 per cent from 4.4bn/- to 6.7bn/- in one week. While total shares sold during the week under review went up four times from 3.6 million to 12.8 millions.
Meanwhile, DSE top most priorities in this year’s quarter one include encouraging more listings, public education and awareness.
The DSE also said its demutualisation process is now at the final stage, after they submitted their IPO (Initial Public Offer) and self-listing application to the Regulator.
After the exchange received an approval the IPO and listing envisaged to be conducted before end of this Q1. Self-listing, or demutualisation, is the process through which a member owned company becomes shareholder-owned.
Frequently, this is a step towards the initial public offering (IPO) of company. The bourse was mutually owned by guarantee but is now called Dar es Salaam Stock Exchange Public Limited Company (PLC).
DSE, since its inception, operates as a ‘mutual’. In Africa, the first to make a self-listing move was the Johannesburg Stock Exchange in 2005, followed by the Nairobi Stock Exchange last year. Others, such as Mauritius Stock Exchange, have started the process.
Source: Daily News, reported from Dar es Salaam, Tanzania
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