| Tanzanite firm to float shares at Dar bourse | Send to a friend |
| Saturday, 04 February 2012 09:45 |
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The Citizen Reporter Dar es Salaam. TanzaniteOne mining company is set to offer 20 per cent of its shares to the public through an Initial Public Offer (IPO). Richland Resources Limited, which owns TanzaniteOne, is set to float the shares at the Dar es Salaam Stock Exchange (DSE) come April, officials said yesterday. However, the value of shares and the corresponding price on the ground would be revealed soon. The company’s approach is different from that of a mining giant, African Barrick Gold (ABG), which only cross-listed its shares at the same bourse. The two would be the only mining companies to list shares locally. The Richland Resources Ltd finance director, Mr Farai Manyemba, said yesterday that although the company is listed at the London Stock Exchange, its management had decided to file an application for listing shares at DSE through an IPO. Mr Manyemba was optimistic that local investors would positively receive their IPO and own a stake in the firm. “With cross-listing you wait for the share owners to sell, but with an IPO, local investors have a big opportunity for both buying and selling of the shares,” he said. Add this page to your favorite Social Bookmarking websites           |
