TBL share sale oversubscribed by 245 %
DAR ES SALAAM, TANZANIA - The share sales of the Tanzania Breweries Limited (TBL) oversubscribed by 245 % of the number of offers on offer, which an analyst attribute to the brewer's counter to be undervalued. Due to this subscription, the East African Breweries (EABL) managed to raise US$76.6 million it was looking for from the sale of a 20 % stake in TBL through an Initial Public Offering (IPO) at the Dar es Salaam Stock Exchange. Chief Executive Offer of the Tanzania Securities Limited (TSL), Read more [...]