[2008-07-31]  NMB shares sale starts Aug 18
Twenty one per cent of the shares of the National Microfinance Bank (NMB) are to be floated to the public to raise 54 million US dollars (about 63bn/-), a government privatisation body said yesterday. The shares sale will start on August 18.

"The shares will be on sale for 600 shillings," said Edwina Lupembe, director general of Consolidated Holding Corporation, which is in charge of privatising state-run companies.
The government owns 51 per cent of the bank. The remaining stake is held by a consortium lead by the Netherlands' Rabobank. After the sale, the government will own 30 per cent in NMB.

The Dar es Salaam Stock Exchange (DSE) expects two other listings in the Dar es Salaam Community Bank and the National Bank of Commerce by the end of 2008. The bourse, which has 11 listed companies, has struggled to attract listings since its creation 10 years ago. In 2006, the government offered a three-year tax cut to 25 per cent from 30 per cent for companies offering at least 35 per cent of their shares to the public.
Source: Copyright @TSN 2007