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NICOL to list on Dar bourse next month
2008-04-01 09:04:50
By Lucas Sige, Tumaini
National Investment Company Limited (NICOL) will soon be listed with the Dar es Salaam Stock Exchange (DSE), a company official has announced.
Speaking at a press briefing in Dar es Salaam yesterday, NICOL board chairman Felix Mosha said the move would enable shareholders to buy and sell their shares on the bourse.
``We were not registered with DSE since we started operations, but due to impressive achievements recorded by the company, we expect to register on May 23, this year,`` he said.
Currently, he said the company was selling its shares, an exercise which is expected to be completed on April 18, this year.
Mosha said NICOL had contacted some banks that would provide loans to the shareholders and people wanting to buy the company`s shares.
Banks which have agreed to issue loans to the shareholders are Exim Bank, Commercial Bank of Africa, Standard Chartered and Federal Bank of the Middle East.
``This will help them to buy more shares in the ongoing process of selling shares,`` Mosha said.
The company aims at selling shares worth 15bn/- which would be used in expanding investment activities according to NICOL's strategic business plan.
He said NICOL had not only succeeded in getting 25,000 shareholders but also collected capital amounting to 13bn/- from the exercise.
Mosha said NICOL shareholders had benefited much because their shares had increased twice as much from 250/- to 689/-.
Mosha said NICOL was working hard to ensure active and effective involvement of more citizens in the privatization of public firms and distribution of the national income through NICOL dividends.
``We are proceeding with our plan of travelling to all regions to meet both new and existing shareholders,`` he said
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