Q THE DAR ES SALAAM STOCK EXCHANGE uarterly Update ISSN No. 856 8448 ISSUE No. 63 DECEMBER, 214 INSIDE 1 2 3 4 5 6 7 8 CEO s MESSAGE ECONOMIC REVIEW A) Economic Trend MARKET REPORT A. Equities B. Bonds NEW LISTINGS STRATEGIC DEVELOPMENTAL MATTERS INVESTOR EDUCATION & PUBLIC AWARENESS INITIATIVES CORPORATE ACTIONS STATISTICS & CHARTS CEO S MESSAGE Greetings! Following the ongoing market re-corrections as well as year-end social and economic activities, indices and market turnover during the quarter (October December 214) were slightly sluggish compared to the previous quarter (July September 214). Domestic market capitalization and indices (which covers the 14 local listed companies) lost by 1 percent while indices and market capitalization (covering the total 21 listed companies) decreased by 3 percent. Liquidity level, as measured by the market turnover, or volume of transactions, also decreased by 17 percent to TZS 144 billion from TZS 175 billion in the last quarter. The domestic market capitalization decreased by 1 percent during the quarter, from TZS 11. trillion as of end of September 214 to TZS 9.9 trillion as of end of December. The total market capitalization also slumped from TZS TZS 22.8 trillion, to TZS 22.3 trillion as end of December 214. The relatively better performance of the total market indices and total market capitalization, compared to domestic listed companies, was a result of the relatively good performance of cross-listed companies in their home markets and also the rights issue for Uchumi Supermarket which increased its market capitalization. During the quarter DSE had one IPO for Mkombozi Commercial Bank PLC, which increased the market capitalization by TZS 2.6 billion. Valuation levels have also decreased slightly in the quarter, from the trailing Market Price Earnings Ratio (PER) for domestic listed companies of 19 times in the end of September to the levels of 16.5 times as of close of month end December. Despite the fact that Price Earnings Ratios in most counters are on same levels to others in the region, but it is fair to say the ongoing correction has hurt the total market valuation. In the year-on-year basis, there has been a significant growth in all fronts: indices, market capitalization and liquidity. Domestic market capitalization has increased by 66 percent to TZS 9.9 trillion; total market capitalization has increased by 34 percent to TZS 22.3 trillion. On the liquidity level, market turnover has increased by 52 percent to TZS 383 billion compared to TZS 252 billion in 213 and an average annual turnover of TZS 5 billion prior to last year. Thank You. 1
2) ECONOMIC REVIEW A: Interest rates Trend During the quarter the Weighted Average Yields (WAY) on treasury bills increased from 12.62 percent in September, 214 to 15.74 percent in December 214. The Chart below shows the T-Bill weighted average yield (WAY) trend. DSE All Share Index 1 lost 56.84 points to settle at 2,519.64 points at the end of the quarter (31 th December 214) from 2,576.48 points in the previous quarter (3 th September, 214). The drop in DSE All Share Index was mainly attributed to decrease in share prices of both domestic and cross-listed companies. The following counters depreciated by at least 1 percent: SWALA (39.66 percent), NMB (22.55 percent), TBL (16.92 percent), NMG (15.53 percent), KQ (11.11 percent). 2,775. All Share Index 2,72. 2,665. 2,61. 2,555. 2,5. 2,445. Index 2,39. 2,335. B) Inflation Developments Annual headline inflation was 6.6 percent in September 214, moved down to 5.9 percent in October, 214 and 5.8 percent in November, 214 and settled to 4.8 percent. This is below even to the Government target of 5. percent. C) Exchange rates Trends The shilling depreciated against the USD by 3.6 percent to an average of TZS 1,725.78 per USD from TZS 1,665.7. On annual basis the shilling depreciated by 9.6 percent from average of TZS 1,574.1 per USD in December 213. 3) MARKET REPORT D) EQUITIES Total italization & Indices The italization dropped by 2.15 percent from TZS 22,576.29 billion as of 3 th September 214 to TZS 22,9.39 billion as of 31 th December 214. Domestic italization & Indices The Domestic italization dropped by 9.95 percent from TZS 11,21.8 billion in Q3, 214 to TZS 9,925.45 billion in Q4, 214. Equally, Tanzania Share Index decreased by 9.98 percent from 5,19.87 points as at the end of September 214 to 4,672.57 points as at the end of December 214. The drop was attributed to depreciation of share prices on SWALA, NMB, TBL, and TCC counters by 39.66 percent, 22.55 percent, 16.92 percent and 4.34 percent respectively. Index 6, 5,5 5, 4,5 4, 3,5 3, 2,28. 2,225. 2,17. 2,115. 2,6. 2,5. 1,95. 1,895. 1,84. 1-Jan 15-Jan 29-Jan 12-Feb 26-Feb 12-Mar 26-Mar 9-Apr 23-Apr 7-May 21-May 4-Jun 18-Jun 2-Jul 16-Jul 3-Jul Tanzania Share Index 13-Aug 27-Aug 1-Sep 24-Sep 8-Oct 22-Oct 5-Nov 19-Nov 3-Dec 17-Dec 31-Dec 2,5 italization 1-Jan 15-Jan 29-Jan 12-Feb 26-Feb 12-Mar 26-Mar 9-Apr 23-Apr 7-May 21-May 4-Jun 18-Jun 2-Jul 16-Jul 3-Jul 13-Aug 27-Aug 1-Sep 24-Sep 8-Oct 22-Oct 5-Nov 19-Nov 3-Dec 17-Dec 31-Dec TZS (Billions) 24,4 24,1 23,8 23,5 23,2 22,9 22,6 22,3 22, 21,7 21,4 21,1 2,8 2,5 2,2 19,9 19,6 19,3 19, 18,7 18,4 18,1 17,8 17,5 17,2 16,9 16,6 16,3 1-Jan 15-Jan 29-Jan 12-Feb 26-Feb 12-Mar 26-Mar 9-Apr 23-Apr 7-May 21-May 4-Jun 18-Jun 2-Jul 16-Jul 3-Jul 13-Aug 27-Aug 1-Sep 24-Sep 8-Oct 22-Oct 5-Nov 19-Nov 3-Dec 17-Dec 31-Dec Banking & Investment Index lost 337.88 points, moving from 3,79.13 points as at the end September 214 to 3,452.25 points at the end of December, 214. The loss emanated from NMB, with 22.55% share price drop, whereas CRDB and DCB share prices increased by 3.3 percent and 42.57 percent respectively. Base year/value for All Share Index :15 Dec 26 =1, 2
Index 4,. 3,8. 3,6. 3,4. 3,2. 3,. 2,8. 2,6. 2,4. 2,2. Banking & Finance Share Index Turnover & Volume Trend Total turnover for the 4th Quarter recorded a 23.38 percent decrease to (TZS 143.64 billion) in comparison to the previous quarter, while volume of shares traded also by decreased 37% from 81 million to 51 million shares. 2,. 1-Oct 15-Oct 29-Oct 12-Nov 26-Nov 1-Dec 24-Dec 7-Jan 21-Jan 4-Feb 18-Feb 4-Mar 18-Mar 1-Apr 15-Apr 29-Apr 13-May 27-May 1-Jun 24-Jun 8-Jul 22-Jul 5-Aug 19-Aug 2-Sep 16-Sep 3-Sep Equity Turnover Trends (212-214) 122 12 Industrial & Allied Index decreased by 11.18 percent moving from 6,869.28 points as of 3 th September, 214 to 6,1.96 points as of 3 th December, 214. The loss was mainly attributed by TBL 16.92 percent and TCC 4.34 percent share price decrease. 7,85. Industrial & Allied Share Index TZS (Billions) 82 62 42 22 2 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 212 213 214 The composition of turnover generated during the quarter is as indicated below: Index 7,35. 6,85. 6,35. 5,85. 5,35. CRDB DCB NMB PAL 1.% 9.% 8.% Quarterly Turnover Contribution for 214.%.%.% 2.%.% 2.7% 6.5% 5.1% 3.5% 4.3% 19.2% 32.% 4,85. SWIS TBL 7.% 35.5% 4,35. 3,85. TCC TCCL 6.% 5.%.% 2.1% 7.2%.6% 59.5% 37.2% 3,35. 1-Jan 15-Jan 29-Jan 12-Feb 26-Feb 12-Mar 26-Mar 9-Apr 23-Apr 7-May 21-May 4-Jun Commercial Services Index went up by 18.52 percent to settle at 2,973.83 points as of 3 th December 214 from 2,59.21 points as of 3 th September 214. The gain was caused by 28.46% increase in SWISSPORT share price. PRECISION share price remained at the same level as was in September 214. Index 345 335 325 315 35 295 285 275 265 255 245 235 225 215 25 195 185 175 1-Jan 15-Jan 29-Jan 12-Feb 26-Feb 12-Mar 26-Mar 9-Apr 23-Apr 7-May 21-May 4-Jun 18-Jun 18-Jun 2-Jul 2-Jul 16-Jul 16-Jul 3-Jul 3-Jul 13-Aug 13-Aug Commercial Services Share Index 27-Aug 27-Aug 1-Sep 1-Sep 24-Sep 24-Sep 8-Oct 8-Oct 22-Oct 22-Oct 5-Nov 5-Nov 19-Nov 19-Nov 3-Dec 3-Dec 17-Dec 17-Dec 31-Dec 31-Dec 4.% 3.% 2.% 1.%.% 51.1%.%.7% 21.8% 1.6% 12.5% 1.5% 2.1% Q1-214 Q2-214 Q3-214 Q4-214 TCC, TBL, CRDB and SIMBA were the top four most traded counters in the quarter. TCC had the largest proportion of the total turnover, accounting to 35.5 percent, whereas TBL, CRDB and SIMBA had 29.7 percent, 12.5 percent and 1.1 percent of the quarterly turnover respectively. Basis Points Improvement in Share Price TOL TPCC TTP EABL KA NMG MBP 1,, 5,, - 5,, - 1,, - 15,, - 2,, CRDB; 12.46% DCB;.33% NMB; 3.47%.%.2% 21.1%.2% Shakers & Movers Key:Size of the bubble = % contribution to Total Turnover TBL; 2.61% TCC; 29.74% TOL; 1.9% TPCC;.18% TCCL; 35.48% 29.7%.% 2.6% 3.5%.3% TTP; 5.9% MBP;.% 3
Foreign Investors Participation During the quarter under review, foreign investors participation in equity trading was 73.35 percent. A significant increment compared to the previous quarter of 63.26 percent. Foreign Investor sells were at 29 percent of the total shares sold during the quarter. Details July - Sept Oct - Dec 214 214 Turnover 173,284.19 143,636.22 (TZS Mn) % Buying Local 36.74 26.65 Investors % Buying 63.26 73.35 Foreign Investors % Selling 26.28 7.8 Local Investors % Selling 73.72 29.92 Foreign Investors A. BONDS TZS (Billions) 1 i. Secondary Trading During the quarter ending December 214, Government Bonds worth 29.22 billion traded in the secondary market. This shows a 7.23 percent decrease compared to the previous quarter (Jul Sept 214) where Government Bonds worth TZS 98.15 billion were traded. 9 8 7 6 5 4 3 2 1-9.9 3.7 26.825.41 22.36 18.24 Monthly Bonds Turnover Trend 212-214 46.85 16.2 5.72 29.95 21.69 2.86 69.61 22.8 19.36 41.43 37.93 14.87 41.65 24.96 17.23 89.82 21. 4.99 35.5 35.87 23.88 58.1 21.95 7.61 51.98 25.31 14.81 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 214 213 212 45.9 32.43 6.8 ii. 17.5 17. 16.5 16. 15.5 15. 14.5 14. Yield Curve on Secondary Bond Market During the quarter of October to December 214, Weighted Average Yield to Maturity (YTM) for 2, 5, 7, 1 & 15 -Year Bonds increased when compared to the preceding quarter. The 2, 5, 7, 1 & 15-Year Bonds average YTM recorded 5.6%, 2.1%, 1.4%, 1.5% and 2.26 percent gains respectively. 14.83 14.12 16. 15.68 4) NEW LISTINGS Weighted Average Yield Curve: Jul - Sept 214 and Oct - Dec 214 15.97 15.75 13.5 2-Year-Bond 5-Year-Bond 7-Year-Bond 1-Year-Bond 15-Year-Bond Jul-Sept '14 Oct-Dec '14 During the quarter under review Dar es Salaam Stock Exchange successfully listed one company in the Enterprise Growth Market segment of the equity market. Mkombozi Commercial Bank listed on 29 th December, 214 after a successful IPO. Also Uchumi Supermarkets Ltd listed a total of 99,534,98 ordinary additional shares through a rights issue. Four more applications for listing were also received (and currently under review). With regards to the Bonds market, Treasury bonds with different maturities worth TZS 223.73 billion were listed in comparison to Treasury Bonds worth TZS 246.6 billion listed in the previous quarter- a decrease of 9.7 percent. Term Preference on Fixed Income Instruments During the quarter, subscription for both short term opportunities were more than the amounts offered. This shows that investors preferred short term investments (95 percent) than long term investments at (76 percent) opportunities during the quarter, 16.5 16.33 4
Comparison of Subscription levels between Government Bonds and Treasury Bills 2% 14% 6) INVESTOR EDUCATION & PUBLIC AWARENESS INITIATIVES Subscription Levels (%) 175% 15% 125% 1% 75% 5% 25% % 118.7% 112.4% 88.6% 88.1% 125% 12% 115% 96% 95% 81% 78% 76% Jan-Mar '14 Apr-Jun '14 Jul-Sept '14 Oct-Dec '14 Gvt Bonds Subscription Level Treas.Bills 12% 1% 8% 6% 4% 2% % Successful Amount (%) (T.Bonds) 6.1.1) Public Awareness As part of its public awareness initiatives DSE continued with its public education campaigns to interested groups, during the quarter DSE made presentations to groups from MVIMAUTA, the Hindu Business Council and the University of Dar es Salaam s Finance Association (DUFA). 5) STRATEGIC DEVELOPMENT MATTERS; 5.1) Testing of Disaster Recovery Site In an effort to strengthen its Business Continuity Management capabilities, during the quarter DSE successfully tested its Disaster Recovery Site. The test proved that DSE can significantly recover from major break downs in its business processes. 5.2) Strategic developments initiatives in the bond market As part of a strategy to make the secondary bond trading market more vibrant, DSE facilitated a process to licensing and admitting commercial banks as Bond Dealers, permitted to directly access DSE ATS & CSD systems. Six (6) Commercial Banks have been licensed as Bond Dealers. DSE also coordinated a training programme for bond market dealers. The training was attended by participants from the Capital Market Securities Authority, Bank of Tanzania, Commercial Banks, DSEs Licensed Dealing Members and Pensions funds. Also DSE continued with its weekly press conferences to main stream media houses to provide updates on weekly performance, market outlook and other relevant information about the market. Also the DSE s CEO continued with his contributions as columnist on The Citizen and Raia Tanzania newspapers. Articles published in these newspapers were educative and also aimed to awaken curiosity on stock market issues to different readers including policy makers, prospective issuers and investors. The same articles can also be found on the publications page of the DSE website. 6.1.2) Company Visits During the quarter DSE visited companies that showed interest in the market so as to encourage them to list and also to explain to them the listing process. The visits were in Kagera Regions. 7) CORPORATE ACTIONS AND COMPANY PUBLICATIONS During the quarter only TBL declared a second interim dividend of TZS 25 per share 5.3) Top 1 Mid- Sized Companies Survey 214 During the quarter the Top 1 mid sized Companies survey for 214 was concluded; from the survey DSE is working on its report to establish target companies for listing. 5
DSE MARKET STATISTICS FOR THE PERIOD OF JANUARY 214 TO DECEMBER 214 Jan 14 Feb 14 Mar 14 Apr 14 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Turnover (TZS Mil) 3,937 9,814.35 2,754.83 9,994.3 15,758.98 15,183.68 11,761.68 44,69.25 81,643.24 61,138.9 67,815.88 3,775.8 45,44.55 Volume of shares 14,124,123 15,645,99 5,27,632 19,141,368 16,539,333 38,26,573 13,835,856 26,799,9 39,12,753 15,525,925 28,226,63 15,527,524 7,681,892 Deals 397 1,384 951 913 934 1,64 1,28 2,882 2,785 3,43 2,561 1,618 1,321 Trading Sessions 21 2 2 2 18 2 21 19 21 21 2 2 22 Market cap (TZS bil) 11,577 16,967.16 17,623.66 17,3.66 18,55.9 17,888. 18,92.16 2,47.44 21,44.53 22,576.29 23,94.6 22,841.34 22,9.39 Exchange Rate 1,582 1,614.43 1,619.5 1,63.7 1,633.22 1,644.42 1,449.68 1,633.22 1,644.42 1,649.68 1,683.39 1,727.89 1,725.78 DSE All Share Index 1,33 1,923.57 1,995.32 1,958.9 2,43.56 2,19.68 2,172.71 2,43.56 2,19.68 2,172.71 2,632.5 2,66.72 2,519.64 ACA 13,16 5,78 7,87 6,71 6,92 6,13 5,83 7,31 6,28 5,62 5,66 6,53 6,81 CRDB 172.5 32 32 295 31 32 32 315 32 33 5 495 43 DCB 64 49 49 49 48 48 48 49 48 55 595 665 72 EABL 2, 5,17 5, 5,7 5,52 5,13 5,51 5,43 5,18 5,15 5,31 5,81 5,58 JHL 5,86 5,9 5,9 5,71 5,75 6,38 7,72 7,36 7,7 9,5 8,52 8,81 8,51 KA 1,2 24 23 23 24 22 2 19 19 18 17 16 16 KCB 44 85 84 87 93 93 94 1,1 1,9 1,8 1,2 1,11 1,8 MBP 6 6 6 6 6 6 6 6 6 6 6 6 MKCB - - - - - - - - - - - - 1,5 NMB 85 2,66 2,7 2,66 2,84 3,3 3,99 4,1 4,15 4,39 4,61 3,91 3,4 NMG 3,1 6, 5,79 5,8 5,79 5,84 5,91 5,79 5,84 5,86 5,56 5,65 4,95 PAL 495 47 47 47 47 47 47 47 47 47 47 47 47 SWALA - - - - - - - 71 1,16 1,65 1,27 7 SWIS 82 2,7 2,7 2,7 2,7 2,66 2,64 2,64 2,88 3,9 5,6 5, 5,1 TATEPA 475 65 65 65 65 65 65 65 65 65 65 65 65 TBL 2,2 8,1 8,1 8, 8, 8,64 9,7 11,5 13,71 16,96 16,98 14,49 14,9 TCC 3,14 8,6 8,82 1, 1, 1,1 11,2 13, 13,21 17,5 16,19 16,3 16,74 TCCL 2,38 2,38 2,46 2,48 2,42 2,36 2,4 2,6 3,5 4,28 5,63 4,29 4,5 TOL 2 31 35 31 4 5 495 48 48 48 575 5 55 TPCC 2,8 2,66 2,5 2,48 2,46 2,44 2,32 2,34 3,2 3,79 4,5 4,1 4, USL - - - - - - - 23 2 16 17 19 COMPARATIVE MARKET RATIOS P/E RATIO DIVIDEND YIELD EPS 29 21 211 212 213 29 21 211 212 213 29 21 211 212 213 TBL 6.42 5.68 4.9 5.32 13.32 9% 8% % 7% 4% 273.95 313.46 412.63 564.26 6.58 TCC 3.91 3.69 4.43 4.89 11.2 8% 14% 19% 18% 9% 46.28 62. 79.42 859.41 78.58 TCCL 3.68 3.76 6.91 4.43 3.96 7% 9% 1% 4% 5% 477.77 55.63 344.41 541.83 59.75 SWIS 4.98 4.94 4.16 9.21 12.87 16% 15% 19% 9% 6% 112.42 121.44 196.92 186.75 28.22 TPCC 6.15 6.45 7.4 7.6 12.72 8% 8% 9% 7% 7% 266.74 279.4 281.26 342.25 29.2 NMB 8.52 6.11 5.92 5.75 9.78 4% 5% 6% 6% % 95.1 17.96 143.68 194.8 267.81 DCB 6.55 2.86 6.36 12.53 5.9 9% 17% 8% 8% 5% 45.81 97.74 1.7 49.5 96.27 CRDB 7.27 5.17 9.99 4.5 7.22 5% 7% 5% 8% 5% 21.5 22.22 17.33 37.1 38.77 TTP - - (5.86) - (5.79) % % % % % (32.59).83 (45.19) 25.42 (112.34) TOL - - - 1.17 11.56 % % % % % (23.91) (5.5) 3.22 25.58 26.81 EABL 1.89 16.5 9.98 7.56 19.96 8% 7% 7% 8% 8% 183.71 124.58 2.32 264.59 264.59 KA - 8.78 14.92 (1.14) - 1% 1% 2% 2% % 75.87 136.73 68.36 (97.64) (97.64) JHL 16.59 7.96 7.96 8.27 7.45 2% 1% 2% 2% 2% 353.21 736.42 736.41 78.45 78.45 KCB 13.74 9.71 6.59 5.64 9.51 4% 4% 5% 7% 5% 32.2 45.3 66.73 78.5 91.51 NMG PAL 7% 3.95 (187.87) ACCIA 6
TANZANIA BREWERIES LIMITED (TBL) 29 294,928,463 115,188 44,239 519,74.9 21 294,928,463 133,842 44,239 524,972.66 211 294,928,463 173,183-595,755.5 212 294,928,463 238,228 58,986 884,785.39 213 294,928,463 253,813 88,479 2,359,427.7 SWISSPORT TANZANIA LIMITED (SWISSPORT) 29 36,, 5,668 3,238 2,16. 21 36,, 6,322 3,327 21,6. 211 36,, 1,238 5,671 29,52. 212 36,, 9,723 5,378 61,92. 213 36,, 11,387 5,997 96,48. 3 TBL (Profit,Dividend & ) 25 2 15 1 5 29 21 211 212 213 25 2 15 1 5 SWISSPORT (Profit,Dividend & ) 12 12 1 1 8 8 6 6 4 4 2 2 29 21 211 212 213 TOL GASES LIMITED (TOL) 29 37,223,686 (144.62) - 8,747.57 21 37,223,686 (89.19) - 7,444.74 211 37,223,686 49.95-7,444.74 212 37,223,686 1,377.13-9,678.16 213 37,223,686 945.52-11,539.34 TANZANIA PORTLAND CEMENT COMPANY LIMITED (TWIGA) 29 37,223,686 (144.62) - 8,747.57 21 37,223,686 (89.19) - 7,444.74 211 37,223,686 49.95-7,444.74 212 37,223,686 1,377.13-9,678.16 213 37,223,686 945.52-11,539.34 TOL (Profit,Dividend & ) 15 1 5-5 - 1-15 14 12 1 8 29 21 211 212 213 6 4 2 TWIGA (Profit,Dividend & ) 1 9 8 7 6 5 4 3 2 1 29 21 211 212 213 6 5 4 3 2 1 7
TATEPA LIMITED 29 17,857,165 (54) - 2,732.15 21 17,857,165 292-2,53.57 211 17,857,165 (628) - 3,89.29 212 17,857,165 484-2,678.57 213 17,857,165 (2,543) - 11,67.16 KENYA AIRWAYS LIMITED (KA) 28 461,615,484 (17,729) 8,787 692,423.23 29 461,615,484 45,968 7,951 6,1.13 21 461,615,484 89,236 12,363 553,938.58 211 461,615,484 4,795 7,11 47,847.79 212 1,496,469,34 (21,147) - 1,481,54.34 1 5-5 - 1-15 - 2-25 - 3 TATEPA (Profit,Dividend & ) 29 21 211 212 213 14 12 1 8 6 4 2 15 1 5-5 - 1-15 - 2-25 KA (Profit,Dividend & ) 28 29 21 211 212 16 14 12 1 8 6 4 2 DIVIDEND (TZS Million) DIVIDEND (TZS Million) MARKET CAPITALIZATION (TZS Million) TANZANIA CIGARATTE COMPANY (TCC) 29 1,, 65,978 15, 18,. 21 1,, 84,1 3, 222,. 211 1,, 11,4 6, 314,. 212 1,, 123,728 75, 42,. 213 1,, 112,137 75, 86,. EAST AFRICAN BREWERIES LIMITED (EABL) 28 79,578,585 225,629 121,572 1,581,157.17 29 79,578,585 194,123 111,882 1,581,157.17 21 79,578,585 212,22 116,724 1,581,157.17 211 79,578,585 215,145 121,428 1,581,157.17 212 79,578,585 285,231 129,385 1,581,157.17 14 12 1 8 6 4 2 TCC (Profit,Dividend & ) 29 21 211 212 213 1 9 8 7 6 5 4 3 2 1 3 25 2 15 1 5 EABL (Profit,Dividend & ) 28 29 21 211 212 18 16 14 12 1 8 6 4 2 8
TANGA CEMENT COMPANY LIMITED (SIMBA) 29 63,671,45 45,83 7,641 112,61.4 21 63,671,45 44,696 11,397 12,974.99 211 63,671,45 35,448 15,727 151,537.9 212 63,671,45 51,272 5,476 152,81.51 213 63,671,45 46,45 7,4 128,615.51 JUBILEE HOLDINGS LIMITED (JHL) 28 36,, 16,75 3,541 21,96. 29 45,, 19,47 3,53 263,7. 21 45,, 36,995 4,451 263,7. 211 45,, 37,198 4,251 263,7. 212 58,895, 49,174 6,555 345,124.7 SIMBA (Profit,Dividend & ) 6 5 4 3 2 1 29 21 211 212 213 18 16 14 12 1 8 6 4 2 JHL (Profit,Dividend & ) 6 5 4 3 2 1 28 29 21 211 212 4 35 3 25 2 15 1 5 NATIONAL MICROFINANCE BANK (NMB) 29 5,, 68,38 15,7 45,. 21 5,, 78,445 18, 33,. 211 5,, 12,786 25, 425,. 212 5,, 144,741 34, 56,. 213 5,, 188,131-1,31,. DAR ES SALAAM COMMUNITY BANK (DCB) 29 32,393,236 2,484 97 9,717.97 21 32,393,236 4,243 1,555 9,7.11 211 32,393,236 4,437 1,62 2,731.67 212 38,546,791 2,84 1,927 23,899.1 213 67,827,897 5,22 1,8 33,235.67 2 18 16 14 12 1 8 6 4 2 NMB (Profit,Dividend & ) 29 21 211 212 213 14 12 1 8 6 4 2 6 5 4 3 2 1 DCB (Profit,Dividend & ) 35 3 25 2 15 1 5 29 21 211 212 213 9
CRDB BANK PLC (CRDB) 29 2,176,532,16 61,922 15,236 333,9 21 2,176,532,16 65,637 17,4 25,31 211 2,176,532,16 51,13 19,589 376,54 212 2,176,532,16 17,72 26,118 326,48 213 2,176,532,16 122,21 3,4 69,429 KENYA COMMERCIAL BANK (KCB) 29 2,176,532,16 61,922 15,236 333,9 21 2,176,532,16 65,637 17,4 25,31 211 2,176,532,16 51,13 19,589 376,54 212 2,176,532,16 17,72 26,118 326,48 213 2,176,532,16 122,21 3,4 69,429 14 12 1 8 6 4 2 CRDB (Profit,Dividend & ) 7 6 5 4 3 2 1 29 21 211 212 213 KCB (Profit,Dividend & ) 4 35 3 25 2 15 1 5 29 21 211 212 213 14 12 1 8 6 4 2 TREASURY BONDS ISSUED AND THEIR SUBSCRIPTION LEVEL IN THE PRIMARY BOND MARKET TREASURY BONDS ISSUED AND THEIR SUBSCRIPTION LEVEL IN THE PRIMARY BOND MARKET TREASURY BILLS AUCTIONED SUBSCRIPTION LEVEL ( Note: T.Bills are not traded on the Exchange) Issue Type of Weighted Weighted Amount Amount Successful Subsription Date Bond Average Average Offered Tendered Amount Level (%) Yield to Coupon (TZS Bln) (TZS Bln) (TZS Bln) Maturity Yield January to December 21-Aug-13 7yr 15.67 13.14 2. 13.87 13.87 69% 4-Sep-13 1yr 15.75 14.55 29.5 4.63 29.5 1% 18-Sep-13 2yr 15.42 9. 3.9 53.38 3.48 99% Amount Amount Successful Offered Tendered Amount Subsription (TZS Bln) (TZS Bln) (TZS Bln) Level (%) September 29 383.38 241.33 83% 1
TREASURY BONDS ISSUED AND THEIR SUBSCRIPTION LEVEL IN THE PRIMARY BOND MARKET TREASURY BONDS ISSUED AND THEIR SUBSCRIPTION LEVEL IN THE PRIMARY BOND MARKET TREASURY BILLS AUCTIONED SUBSCRIPTION LEVEL ( Note: T.Bills are not traded on the Exchange) Issue Type of Weighted Weighted Amount Amount Successful Subsription Date Bond Average Average Offered Tendered Amount Level (%) Yield to Coupon (TZS Bln) (TZS Bln) (TZS Bln) Maturity Yield October to December 213 2-Oct-13 5yr 15.51 11.69 3.86 28.67 5. 16% 17-Oct-13 1yr 15.96 14.72 47.2 28. 2.7 6% 3-Oct-13 2yr 15. 8.89 3.9 131.69 3.9 1% 27-Nov-13 7yr 15.15 12.83 49. 88.65 49. 1% 11-Dec-13 5yr 15.44 11.66 3.9 69.72 3.9 1% Amount Amount Successful Offered Tendered Amount Subsription (TZS Bln) (TZS Bln) (TZS Bln) Level (%) October to December 213 October 29 41.41 187.18 64.54% November 35 471.3 35.79 115% December 4 269.85 215.51 54% January to March 214 8-Jan-14 2yr 15.7 8.9 3.9 56.6 7. 23% 22-Jan-14 1yr 15.84 14.63 25. 42. 4.6 162% 5-Feb-14 5yr 14.53 11.28 3.9 111.5 3.9 1% 19-Feb-14 15yr 16.94 16.58 29.5 32.16 23. 78% 5-Mar-14 7yr 15.56 13.7 49. 73.93 49. 1% 19-Mar-14 2yr 14.4 8.8 3.9 116.53 75. 243% January to March 214 January 225 427.49 226.41 1.63% February 265.5 786.66 423.54 16% March 27 526.3 26. 96% Aprl to June 214 2-Apr-14 1yr 16.4 14.74 47.2 43,465. 32.93 7% 17-Apr-14 5yr 14.92 11.44 3.9 37.54 3.9 1% 14-May-14 7yr 15.69 13.15 49. 73.14 49. 1% 3-Apr-14 5yr 17.33 16.95 3.9 42.35 3.9 1% 29-May-14 1yr 16.43 15.8 47.2 49.59 47.2 1% 11-Jun-14 2yr 13.83 8.69 3.9 17.66 3.9 1% 25-Jun-14 7yr 15.15 12.83 1.7 53.77 1.7 1% April to June 214 April 27 448.68 264.8 97.81% May 27 652.9 329.67 122% June 272 314.27 219.88 81% July to Sept 214 9-Jul-14 1yr 16.82 15.39 55. 45.23 45.23 82% 23-Jul-14 5yr 15.68 11.77 62. 39.14 39.14 63% 6-Aug-14 15yr 17.51 13.15 3. 26.88 25.18 84% 2-Aug-14 2yr 14.12 8.75 55. 128.3 55. 1% 3-Sep-14 7yr 16.75 13.19 6. 37.92 3.37 51% 17-Sep-14 1yr 16.33 15. 45. 73.1 45. 1% July to September 214 Jul 295 348.48 214.62 72.75% Aug 27 545.6 243.98 9% Sep 27 81.46 585.65 217% Oct to Dec 214 1-Oct-14 5yr 15.99 11.9 62. 71.7 62. 1% 15-Oct-14 15yr 17.91 17.47 42. 31.58 31.58 75% 29-Oct-14 2yr 14.83 8.86 55. 83.58 38.56 7% 12-Nov-14 7yr 15.97 13.31 6. 71.87 66.64 111% 26-Nov-14 1yr 16.5 15.13 45. 31.89 2.1 44% 23-Dec-14 15yr.. 25. 14.35 - % October to December 214 Oct 27 357. 288. 17% Nov 27 315. 233. 86% Dec 27 269. 246. 91% 11
Bond Issue Date Interest Rate Maturity Date Closing Principal (FV) 2 TWO YEARS BONDS Total 2 Year Bond Various 7.82% Various 483,61,1,. 5 YEAR BONDS Total 5 Year Bond Various 9.18% Various 1,,59,8,. 7 YEAR BONDS Total 7 year bond Various 1.8% Various 1,76,648,4,. 1-YEARS BONDS Total 1 year bond Various 11.44% Various 1,187,367,2,. 15-YEARS BONDS Total 13 year bond Various 13.5% Various 134,329,777,. Total Value of Outstanding Treasury Bonds 3,881,466,277,. Contact Addresses of Licensed Stock Brokers CORE Securities Ltd 4th Floor, Elite City Tower Samora Avenue, Dar es Salaam Tel: +255 22 212 313 Fax: +255 22 218 2521 info@coresecurities.co.tz Orbit Securities Co. Ltd 4th Floor, Golden Jubilee Tower, PSPF Building Ohio Street, Dar es Salaam Tel: +255 22 211 1758 Fax: +255 22 211 367 orbit@orbit.co.tz Rasilimali Ltd 3rd Floor, Consolidated Holdings Building, Samora Avenue, Dar es Salaam Tel: +255 22 211 1711 Fax: +255 22 211 2883 rasilimali@africaonline.co.tz Tanzania Securities Ltd 7th Floor, IPS Building, Samora Avenue/ Azikiwe Street, Dar es Salaam Tel: +255 22 211 287 Fax: +255 22 211 289 info@tanzaniasecurities.co.tz Vertex International Securities Ltd Annex Building-Zambia High Commission Sokine/Ohio Street, Dar es Salaam Tel: +255 22 211 6382, Fax: +255 22 21 387 vertex@vertex.co.tz Solomon Stockbrokers Co. Ltd Ground Floor, PPF House Samora Avenue/Morogoro Road, Dar es Salaam Tel: +255 22 211 2874, Fax: +254 22 213 1969 solomon@simbanet.net E.A. Capital Ltd 6th Floor, IT Plaza Ohio Street P.O. Box 265, Dar es Salaam Tel +255 77974818/ +255 784461759 EC@EACAPITAL-TZ.COM ZANSecurities Ltd Mezzanine Floor, Haidary Plaza P.O. Box 5366, Dar es Salaam Tel: +255 22 212 6415, Fax: +255 22 212 6414 info@zansec.com 12