Voda, cross-listed equities hike DSE capitalisation by Sh208bn

Dar es Salaam. The market capitalisation at the Dar es Salaam Stock Exchange (DSE) rose by Sh208.1 billion last week, thanks to price appreciation at Vodacom and three cross-listed firms.

The DSE total market capitalisation increased to Sh19,027.5 billion last week from Sh18,819.4 billion during the week ending Friday, September 13, 2019.

Domestic market capitalisation rose by Sh111.5 billion to Sh9.18 trillion from Sh9.07 trillion on Friday, September 13, 2019.

Vodacom Tanzania’s price for a share rose 6.3 per cent, to close at Sh850 on Friday last week - up from Sh800 the week before.

The price for a Kenya Airways (KA) share rose by 3.5 per cent, to Sh880 last week from Sh850 during the preceding week.

The price for shares for Jubilee Holdings Ltd (JHL) and East African Breweries Ltd (EABL) rose by 12.4 per cent and 0.9 per cent respectively. The former closed the week at Sh8,150 while the latter closed at Sh4,400.

The stock market’s turnover broke its all-time record last week when it skyrocketed to a weekly turnover of Sh504.96 billion against a turnover of Sh184.39 million that was recorded during the preceding week. The splendid performance was largely on account of the sale of a 26.25 per cent stake Milambo Holdings to Vodacom Group of South Africa.

In an ‘All or Nothing’ (AON) Market board, the Vodacom counter transacted 588 million shares on Wednesday last week at Sh850 apiece in a single deal to sell all the shares that were held by Tanzanian tycoon Rostam Aziz’s Milambo Holdings.

This comes almost ten months after Vodacom Tanzania shareholders unanimously approved the sale of Mirambo Holdings’ stake to Vodacom Group of South Africa in November 2018. Other active counters last week were Tanzania Breweries Ltd (TBL) and Tanzania Portland Cement Company (TPCC)..