News and developments on African capital markets: African securities, African stock exchanges, African equities, African bonds, African private equity/venture capital, and African social impact investment. Twitter @africancapital, LinkedIn African Securities Exchanges group.
Africa’s £1.98 billion ($2.68bn) megalisting Vivo Energy (VVO) soared in its first 2 days of trading on the London Stock Exchange (dual-listed in Johannesburg ) on 10-11 May after a successful initial public offer (IPO) raised £548m.
Brexit, the UK’s decision to leave the European Union, is having a global ripple effect. Will Brexit affect initial public offerings (IPOs) in Africa?
African share issuers have raised $1.4bn in 2017 through initial public offers (IPOs) of shares, compared to $1.2bn in 2016.
Investor institutions are protesting moves by UK capital-markets regulator, Financial Conduct Authority, to alter listing standards to accommodate a potential $2 trillion listing of Aramco on the London Stock Exchange, the world’s biggest listing.
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.
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.
Roundup of some recent initial public offers (IPOs) of shares which raised capital for businesses listed on Africa’s stock exchanges.
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.