Foreigners buy Sh2bn shares that locals released at TBL

Dar es Salaam. Local investors have continued to exit Tanzania Breweries Limited (TBL) after floating shares worth Sh2 billion that their foreign counterparts bought on Wednesday, the Dar es Salaam Stock Exchange (DSE) has shown.

The report shows the company recorded a turnover of Sh4.64 billion of which Sh4.63 billion were recorded by TBL.

The report by DSE has also shown that foreign investors sold shares valued Sh2.6 billion which was 55.97 per cent of total selling value, while local investors sold shares valued Sh2 billion, which was 44.03 per cent.

However, 99 per cent of the value of all shares bought during the day was taken by foreign investors, while locals bought only 0.3 per cent.

On prearranged market board, TBL transacted 189,000 shares traded at Sh13,000 per share in three deals; while the company counter had 168,160 shares traded at weighted average price of Sh13,000 per share in 28 deals.

Unlike on Tuesday when investors withdrew their shares on offer, the Wednesday’s session witnessed the flood of shares by most locally listed companies except Yetu Microfinance, Tatepa, TOL Gases and Mucoba.

The company which recorded the highest volumes of shares on offer was Vodacom with 326,758 outstanding offers, CRDB with 152,325 shares, NMB Bank with 92,088 shares and TCC with 80,840 outstanding offers.

The Wednesday session also recorded number of bidders mostly targeting Tanzania Portland Cement Company (TPCC), NICO, DSE, Acacia, CRDB Bank Plc, KCB Bank and Tanzania Breweries Limited (TBL).

Other active counters during the reviewed day were TPCC, which had a turnover of Sh10.5 million, followed by DSE with Sh2.2 million. Vodacom, NICO, CRDB and Maendeleo Bank Limited recorded minor turnovers.