Dar es Salaam Stock Exchange (DSE) has temporarily suspended an agri-based firm-Jatu Plc from trading for two months to pave the way for the start-up’s initial public offer.
The bourse said the suspension started June 1st and would last up to July 28th.
It plans to list 15,000,000 new shares.But in a statement released on Wednesday, DSE said the suspension was a decision reached after the regulator-Capital Markets and Securities Authority (CMSA) harmonization of Jatu’s corporation actions.
The action related to “share split for existing listed shares, price between primary market and secondary market and ongoing IPO,” DSE said.
The statement said all shares, following the share split for existing shares together with new shares subscribed during the IPO, will be credited electronically and deposited in the Central Depository System on July 29th to enable secondary trading.
The agri-based firm shares were trading at 1,200/- before the suspension on Tuesday against 420/- during listing late last November