News and developments on African capital markets, includes: African securities, African stock exchanges/stock markets, African equities, African bonds, African private equity/venture capital, and African social impact investment
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.
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.
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.