DSE Plc share price triples

Dar es Salaam. The Dar es Salaam Stock Exchange (DSE) Plc share price rose to Sh1,500 on Wednesday this week, reaching the highest record since it was listed 19 months ago.

This is equivalent to three times the company initial public offer (IPO) price of Sh500 and 50 per cent increase compared with the listing price of Sh1,000. The company self-listed its shares in July, 2016.

This indicates than an investor who invested Sh50,000 in buying 100 shares during the company initial share sale 19 months ago, can sell them at Sh150,000.

Those who retained DSE Plc shares since the IPO have also benefited further by earning dividends declared each year.

The DSE market report shows that the company opened the week at a price of Sh1,480, although its shares were traded at prices ranging from Sh1,400 to Sh1,520.

Daily market reports showed that during the first three days of this week, 24,850 DSE Plc shares valued Sh41 million were transacted in 15 deals.

Market capitalisation for the company has also increased by Sh15 billion rising to Sh35.74 billion on Wednesday this week from Sh20.25 billion recorded during the first day of secondary trading on July 13, 2016.

DSE Plc, which is among the active counters at the bourse, started last year with a share price of Sh1,020, reaching Sh1,460 in August, before slowing to Sh1,120 in December.

DSE Plc conducted its IPO whereby it raised a total Sh35.6 billion. The amount raised was more than four times the target amount of Sh7.5 billion. DSE Plc shares were listed on Dar es Salaam Stock Exchange on July 12, 2016 to become the third stock exchange in Africa to undergo self-listing.

Other listed exchanges in Africa are Johannesburg Stock Exchange (JSE - 2005) and Nairobi Securities Exchange (NSE - 2014).