Vodacom share prices fall as investors lose appetite
What you need to know:
- The Vodacom shareholders have continued to sell their shares at loss, as the equities market started the year with low tone.
Dar es Salaam. Vodacom Tanzania Plc investors now sell their shares at a loss as demand at the Dar es Salaam Stock Exchange (DSE) has fallen.
A market report shows that some Vodacom investors sell their shares at Sh720 each.
That is the lowest since the company was listed on the bourse.
The company issued its initial public offering at Sh850. It rose to Sh900 during the listing.
The report shows that the company’s counter had the turnover of Sh468,000 on Monday’s close, from transacting 650 shares at Sh720 each in one deal.
The company market capitalisation closed at Sh1.7 trillion on Monday this week, from Sh2.1 trillion recorded during the listing.
This indicates that the company investment has decreased by Sh400 billion since it was listed in May 2017.
Meanwhile, the equity market has continued to receive low investors’ response as only Sh3 million was recorded on Monday this week from transacting 8,506 shares in 15 deals.
DSE Plc transacted the highest turnover of Sh1.8 million from trading 1,323 shares in four deals.
It was followed by CRDB Plc which transacted 6,262 shares valued at Sh881,040 in eight deals.
TBL transacted one share at Sh11,000l. The price was lower than that at the opening of Sh12,900.
Tanga Cement Company Limited (TCCL) transacted 270 shares valued at Sh172,800 at Sh640 each in one deal.
The overall market capitalisation fell to Sh19.5 trillion on Monday’s close from Sh19.6 trillion on Friday last week.
The slowdown of the market capitalisation was a result of falling share prices of cross-listed companies.
DSE was incorporated in September 1996 and trading started in April 1998. It is a member of the African Stock Exchanges Association. The exchange is open five days a week, from Monday through Friday.
The activities of the exchange are monitored and supervised by the Capital Markets and Securities Authority. The DSE operates in close association with the Nairobi Securities Exchange in Kenya and the Uganda Securities Exchange in Uganda.
