Jatu Plc to return to DSE trading
What you need to know:
- The company was first listed on the DSE in November 2020 before it stopped trading at the bourse to sell new 15 million shares.
Dar es Salaam. Agri-firm Jatu is expecting to return to the Dar es Salaam Stock Exchange (DSE) on August 11 this year, after its initial public offering (IPO) was subscribed by 100 percent.
The company was first listed on the DSE in November 2020 before it stopped trading at the bourse to sell new 15 million shares.
“JATU Plc reports to the public that the sale of shares to the public has been successful, with 15,526,372 shares sold to the public compared to the target of selling 15,000,000 shares, a 104 percent success rate,” said CEO Peter Gasaya in a statement yesterday.
Mr Gasaya thanked all the stakeholders involved in the process of facilitating the sale of the shares, including government authorities, DSE, consulting firms and new emerging investors.
Jatu will return to the secondary market to continue with the trading.
For the first time Jatu Plc was listed on the market selling its shares at Sh420 per share but its shares increased in value to Sh2,480 and later increased to over Sh3,000.
In June this year the DSE banned the sale and purchase of Jatu shares for a period of about two months to allow the company to continue the process of listing its new shares in the market, during which time they had to compare prices in the previous market with the stock market. The DSE coincides with the preparation of the whole issue of listing new shares.
DSE CEO Moremi Marwa said the company, which was first listed on the market on November 23, 2020, had asked for an additional two weeks to return to the market.
