Sh351 million of Tanga Cement shares sold on sale news
Dar es Salaam. Shares of Tanga Cement worth Sh351 million were traded at the Dar es Salaam Stock Exchange (DSE) on Tuesday after news of the company acquisition by Twiga Cement parent firm.
Materials manufacturer Scancem International DA, a subsidiary of Heidelberg Cement, announced to have concluded discussions with Afrisam of Mauritius on the buyout of the cement company.
The company’s trading dominated Tuesday trading after selling 869,662 shares on a pre-arranged market board, according to the DSE market report.
That was the major transaction on Tuesday as the bourse recorded a total turnover of Sh367.02 million after trading 901,327 shares.
According to DSE, the company also traded 6,980 shares at weighted average price of Sh450 per share in a single deal at the normal board.
Other active counters included CRDB, self-listed DSE, Jatu Plc, NMB Bank Plc, TICL, TOL and Tanzania Portland Cement Company (TPCC).
The CRDB counter had 13,531 shares traded at weighted average price of Sh250 each in 20 deals. The DSE counter had 5,050 shares traded at weighted average price of Sh1, 220 apiece in five deals, while the Jatu counter had 2,430 shares traded at weighted average price of Sh670 each in 20 deals.
The NMB counter had 1,248 shares traded at weighted average price of Sh2,040 each in seven deals. The TICL counter had 30 shares traded at weighted average price of Sh330 apiece, while the TOL counter had 2,050 shares traded at weighted average price of Sh510 each in a single deal.
The Twiga Cement counter had 346 shares traded at weighted average price of Sh3, 520 per share in four deals.
On the government bond, the bourse recorded a total turnover of Sh22.31 billion.
DSE reported that a 5-year bond with a coupon rate of 9.18 percent and a face value of Sh550 million was traded at 107.2866 percent, while a 7-year bond with a coupon rate of 10.08 percent and a face value of Sh1.97 billion was traded at above premium in two deals.
The market also traded a 10-year bond with a coupon rate of 11.44 percent and a face value of Sh130 million at 100 percent, while a 15-year bond with a coupon rate of 13.5 percent and a face value of Sh10.12 billion was traded in five deals.
Furthermore, a 20-year bond with a coupon rate of 15.49 percent and a face value of Sh7.26 billion was traded in seven deals, while a 25-year bond with a coupon rate of 15.95 percent and a face value of Sh1.14 billion was traded in five deals.
