June, 2013

DSE QUARTERLY UPDATE

The Dar es Salam Stock Exchange
ISSN No. 0856 8448

CONTENTS
1. Market Report
A. Equitie...
June, 2013

DSE QUARTERLY UPDATE

Domestic Market Capitalization
The Domestic Market Capitalization grew by 16.31% from
TZ...
June, 2013

DSE QUARTERLY UPDATE

Foreign Investors’ Participation
During the quarter under review, foreign investors’ par...
June, 2013

3.

DSE QUARTERLY UPDATE

STRATEGIC DEVELOPMENT
MATTERS

include: W-Stores Tanzania Ltd, Tanzania Ports Author...
June, 2013

DSE QUARTERLY UPDATE

5.2 NMB announced final dividend of TZS 34 billion or TZS
68 per share. This is 26% growt...
June, 2013

DSE QUARTERLY UPDATE
COMPARATIVE MARKET RATIOS

COMPANY

P/E RATIO

DIVIDEND YIELD

2008

2009

2010

2011

20...
June, 2013

DSE QUARTERLY UPDATE

TANZANIA PORTLAND CEMENT COMPANY
LIMITED (TWIGA)

TOL GASES LIMITED (TOL)
NUMBER
OF ISSU...
June, 2013

DSE QUARTERLY UPDATE

TANZANIA CIGARATTE COMPANY (TCC)
NUMBER
OF ISSUED
SHARES

PRE-TAX
PROFIT

DIVIDEND

MARK...
June, 2013

DSE QUARTERLY UPDATE

CRDB BANK PLC (CRDB)

DAR ES SALAAM COMMUNITY BANK (DCB)
NUMBER
OF ISSUED
SHARES

PRE-TA...
June, 2013

DSE QUARTERLY UPDATE

PRIMARY BONDS MARKET/TREASURY BILLS SUBSCRIPTION LEVELS
TREASURY BONDS ISSUED AND THEIR ...
June, 2013

DSE QUARTERLY UPDATE

July to Sept 2012
11-Jul-12

July to Sept 2012

5yr

14.74

11.36

30.00

75.76

45.76

...
June, 2013

DSE QUARTERLY UPDATE

Contact Addresses of Licensed Stock Brokers

CORE Securities Ltd
4th Floor, Elite City T...
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The Dar es Salam Stock Exchange FY 2013

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The Dar es Salam Stock Exchange FY 2013

  1. 1. June, 2013 DSE QUARTERLY UPDATE The Dar es Salam Stock Exchange ISSN No. 0856 8448 CONTENTS 1. Market Report A. Equities B. Bonds Issue No. 56 June, 2013 1. MARKET REPORT A. EQUITIES Market Capitalization & Indices The Market Capitalization grew by 4.01% from TZS 13,515.84 billion as of 31st March 2013 to TZS 14,057.92 billion as of 30th June 2013. 2. New Listings 3. Strategic evelopmental Matters 4. Investor Education &Public Awareness Initiatives All Share Index gained (+4.01%) from 1,521.48 points by the end of March 2013 to 1,582.51 points as of 30th June 2013. Growth in DSE All Share Index was caused by appreciation of domestic share prices. The following counters appreciated by at least 10%: CRDB (71.78%), TTP (36.36%), NMB (24.62%), and TCC (12.85%). 5. Corporate Actions 6. Statistics & Charts 1 Base year/value for All Share Index: 15 Dec 2006=1,000 1 DSE QUARTERLY-June 2013.indd 1 7/22/13 4:45:36 PM
  2. 2. June, 2013 DSE QUARTERLY UPDATE Domestic Market Capitalization The Domestic Market Capitalization grew by 16.31% from TZS 3,323.25 billion in Q1 to TZS 3,865.63 in Q2. Equally, Tanzania Share Index increased by 16.31% from 1,582.07 points as at the end of March 2013 to 1,840.11 points as at the end of June 2013. This is also linked to the appreciation domestic share prices. Turnover Trend & Volume Trend During the quarter, equity turnover, volume of transactions, and the number of deals increased by 235.13%, 337.69%, and 6.27% respectively. Equity turnover increased from TZS 10 billion to TZS 35 billion (i.e. 3.5X) while volume of shares traded increased from 17,526,066 Shares to 76,709,453 shares (i.e. 4.4X). The composition of turnover generated during the quarter is as indicated below: Banking & Investment Index increased by 517 points (+38.51%) to 1,860.10 points at the end of June, 2013 compared to 1,342.97 points by the end of the previous quarter. The increase was supported significantly by the CRDB (71.78%) gain and a substantial increase of NMB (24.62%) share prices. For the second quarter in a row, DCB share prices declined (-33.33%). TBL, CRDB, TPCC, and NMB counters were traded most in during the quarter, accounting for 39.22%, 38.64%, 11.57%, and 5.02% of the quarterly turnover respectively. Industrial & Allied Index increased by 6.19% moving from 1,881.74 points on 31st March, 2013 to 1,998.15 points as of 30th June, 2013. During the quarter; TATEPA, TCC, SWISSPORT, TBL, PAL, and TWIGA prices appreciated by 36.36%, 12.85%, 6.25%, 6.23%, 3.26%, and 1.53% respectively. TOL and SIMBA prices remained flat. During the quarter under review: TCC, NMB and TBL ranked first, second and third respectively, in terms of price appreciation. 2 Base year/value for Tanzanian Share Index: 01 Jan 2009=1,000 2 DSE QUARTERLY-June 2013.indd 2 7/22/13 4:45:42 PM
  3. 3. June, 2013 DSE QUARTERLY UPDATE Foreign Investors’ Participation During the quarter under review, foreign investors’ participation in equity trading at the exchange was stood at 26.53% a modest improvement compared to a previous quarter of 15.68%. Details Jan - Mar 2013 Turnover (TZS Mn) Apr - Jun 2013 10,423.94 34,933.59 % Buying Local Investors 68.64 46.93 % Buying Foreign Investors 31.36 53.07 B. BONDS (i) Secondary Trading 2. NEW LISTINGS During the quarter, trading in the secondary market for Government bonds significantly improved (+124.27%) from TZS 41.68 billion TZS in the first quarter (January to March 2013) to TZS 93.47 billion in the quarter ending June 2013. There was no new IPO during the quarter. With regard to the bonds market, Treasury bonds with different maturities worth TZS 271.72 billion were listed during the quarter (a 2.89% more than the preceding quarter). Treasury bonds worth TZS 264.10 billion were listed in the quarter ended 31st March 2013. Comparatively, Government bonds with a combined turnover of 55.92 billion were traded in the second quarter of year 2012 (a quarter ended June 2012. Term Preference on Fixed Income Instruments During the quarter, subscription levels for both short term and long term investment opportunities were less than the amounts offered. At 91% subscription levels (a significant drop from 130% levels a previous quarter), investors preferred short term investments than long term investments (81%) during the quarter. The combined subscription levels for short and long term investments were lower (86%) than the preceding quarter (112%). (ii) Yield Curve on Secondary Bond Market During the quarter of April to June 2013, Weighted Average Yield to Maturity (YTM) for 2-Year Bonds slightly declined when compared to the preceding quarter. The 5-Year, 7-Year and 10-Year Bonds averages were higher than their respective preceding quarters’ averages. YTM for the 10-Year bonds recorded the highest gain of 7.04%. The 2-Year bonds’ YTM declined by 0.8%. Ten year bond yield increased from 14.28% to 15.28%, Seven year bonds improved from 15.29% to 15.48 (+1.22%), Five year bonds (+0.55%) increased from 14.38% to 14.93%, and, the two year bonds declined from 14.30% to 14.18%. As depicted above, during Q1 2013, longer maturities had higher average yields than shorter term maturities. Yields for 7-Year Bonds were the highest (at 15.48%) on average than the rest. 3 DSE QUARTERLY-June 2013.indd 3 7/22/13 4:45:44 PM
  4. 4. June, 2013 3. DSE QUARTERLY UPDATE STRATEGIC DEVELOPMENT MATTERS include: W-Stores Tanzania Ltd, Tanzania Ports Authority, Exim Bank Tanzania Ltd and Petrolube Tanzania Ltd. There is positive responsive to all the visits made. DSE will deploy more effort in the next quarter 3.1 Demutualization Study Also during the quarter DSE Management had an opportunity to appear before the Parliamentary Committee for Industries, Trade and Economy. During this session with the policy makers, DSE emphasized the importance of the Government to use the Exchange when privatizing Government owned entities. The DSE Demutualization study was completed during the quarter. The National Demutualization Committee -NDC (committee formed by the Regulator) supervised the study which was done by a Consultant. The study has recommended different options on how the DSE can be transformed as a company with share capital. The NDC will work on the study recommendations. 4.2) Public Awareness for the Enterprise Growth Market (EGM) 3.2 Review DSE’s Blue Print During the quarter the preparations for the country-wide Public Awareness Campaigns regarding the new market segment (EGM) were at advance stage. The campaigns that will involve seminars, airing of TV and Radio programmes will start before end of third quarter of the year 2013. During the quarter DSE, with the assistance of a Consultant, managed to complete review of its Rule Book. The review process involved all stakeholders. The newly drafted DSE Rule Book is now awaits approval from the Regulator. 3.3 Implementation of Wide Area Network (WAN) and Reduction of Delivery Versus Payment (DVP) Settlement Cycle 4.3) Saba Saba Exhibitions DSE made preparations for participation in the Saba Saba Exhibitions at Mwalimu Nyerere International Trade Fair for year 2013. DSE uses the usual 11 days exhibitions as one of its platform for Public Awareness Campaigns. During the quarter DSE has successfully completed implementation of WAN and the reduction of settlement cycle from T+5 to T+3 for equities and from T+3 to T+1 for bonds. The implementation of WAN has enabled DSE Licensed Dealing Members (stock brokers) to conduct their trading activities on listed shares and bonds from their offices (remote). 4.4) Students Visits During the quarter under review DSE hosted a total of 90 visiting students from Secondary schools and Higher Learning Institutions. From Secondary Schools were: 23 students from Kibasila High School; 10 students from Umbwe Secondary School; Benjamin William Mkapa Secondary 5 students and Weruweru Secondary School 7 students. From Higher Learning Institutions were: Institute of Finance Management (IFM)- 3; College of Business Education (CBE) -2 and National Instutute of Transport (NIT)- 40. Also CSD users now can access and use the DSE’s CDS services remotely. The two milestones in the DSE history are expected to virtually replicate the DSE’s trading facilities though-out the country and hence make it accessible to more market players (including the general public). 4. DSE also received a total of 6 research students: from Mzumbe University were 4 and one student from both University of Strathclyde (UK) and Institute of Rural Development Planning –Dodoma. INVESTOR EDUCATION & PUBLIC AWARENESS Initiatives to Increase Financial Literacy 5) CORPORATE ACTIONS Dividend Announcements 4.1) Public Awareness for the DSE Activities During the quarter the following made their final dividend announcements: In its effort to create and increase public awareness about DSE activities and the opportunities available at the Exchange, During this quarter DSE Management embarked on companies visits targeting potential issuers and investors. The visited companies 5.1 DCB announced final dividend of TZS 949.59 million or TZS 14 per share from year 2012 Profit After Tax of TZS 1.91 billion. The announced final dividend is 59% of the year 2011 final dividend of TZS 1.61 billion. 4 DSE QUARTERLY-June 2013.indd 4 7/22/13 4:45:45 PM
  5. 5. June, 2013 DSE QUARTERLY UPDATE 5.2 NMB announced final dividend of TZS 34 billion or TZS 68 per share. This is 26% growth in dividend compared to year 2011 dividend of TZS 25 billion. 5.3 CRDB announced final dividend of TZS 26.12 billion or TZS 12 per share from year 2013 Profit After Tax of TZS 26.1 billion. The announced final dividend is 33% growth in dividend compared the year 2012 final dividend of TZS 19.6 billion. DSE MARKET STATISTICS FOR THE PERIOD OF APRIL 2012 TO MARCH 2013 July '12 Aug '12 Sept '12 Oct '12 Noc '12 Dec '12 Jan '13 Feb '13 Mar '13 Apr '13 May '13 Jun '13 Turnover (TZS’ Mil) July '12 Aug '12 Sept '12 Oct '12 Noc '12 Dec '12 Jan '13 Feb '13 Mar '13 Apr '13 May '13 Jun '13 Volume of shares 3,375,723 4,121,075 6,695,226 11,041,016 4,938,667 4,043,386 5,954,594 8,067,372 4,116,597 4,137,121 7,798,369 5,590,576 Deals 563 891 1,082 1,049 994 1,158 775 862 595 979 887 907 Trading Sessions 18 22 21 22 21 19 22 22 19 21 20 20 Market cap (TZS bil) 11,780.54 11,701.33 12,772.79 12,813.86 12,872.94 12,948.40 12,954.27 13,099.26 13,197.34 13,223.05 13,381.31 13,515.84 Exchange Rate 1,568.33 1,518.33 1,568.91 1,574.80 1,567.38 1,569.27 1,571.99 1,571.38 1,571.62 1,582.70 1,587.52 1,590.52 DSE All Share Index 1,326.14 1,262.82 1,437.84 1,442.46 1,449.11 1,457.61 1,458.27 1,474.59 1,485.63 1,488.53 1,506.34 1,521.48 TBL 2,520 2,600 2,620 2,620 2,800 3,000 2,900 3,100 3,020 3,020 3,040 3,220 TOL 220 220 220 240 260 260 260 260 260 260 260 260 TATEPA 325 325 325 350 400 400 440 440 440 550 600 600 TCC 3,360 3,360 4,000 4,020 4,100 4,200 4,320 5,200 5,760 6,100 6,040 6,500 TCCL 2,380 2,400 2,420 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 SWIS 1,200 1,340 1,380 1,460 1,700 1,720 1,740 1,800 1,920 2,000 1,980 2,060 TPCC 2,440 2,500 2,500 2,500 2,540 2,600 2,600 2,600 2,620 2,640 2,640 2,660 DCB 640 620 620 620 620 620 620 620 600 580 510 400 NMB 960 960 1,000 1,000 1,100 1,120 1,140 1,200 1,300 1,420 1,580 1,620 CRDB 117.50 117.50 118 117.50 125.00 150 160.00 155.00 163 180.00 198.00 280 JHL 5,860 5,860 5,860 5,860 5,860 5,860 5,860 5,860 5,860 5,860 5,860 5,860 KA 1,020 1,020 1,020 1,020 1,020 990 990 990 990 990 990 990 EABL 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 KCB 440 440 440 440 440 440 440 440 440 440 440 440 NMG 3,100 3,100 3,100 3,100 3,100 3,100 3,100 3,100 3,100 3,100 3,100 3,100 ABG 13,160 13,160 13,160 13,160 13,160 13,160 13,160 13,160 13,160 13,160 13,160 13,160 PAL 475 470 470 470 470 460 460 460 460 475 475 475 5 DSE QUARTERLY-June 2013.indd 5 7/22/13 4:45:45 PM
  6. 6. June, 2013 DSE QUARTERLY UPDATE COMPARATIVE MARKET RATIOS COMPANY P/E RATIO DIVIDEND YIELD 2008 2009 2010 2011 2012 TBL 7.23 6.42 5.68 4.90 TCC 5.35 3.91 3.69 4.43 TCCL 3.91 3.68 3.76 SWIS 6.59 4.98 TPCC 8.23 6.15 NMB 9.96 DCB CRDB 2009 5.32 11% 9% 8% 0% 7% 251.57 273.95 313.46 412.63 564.26 4.89 17% 8% 14% 19% 18% 310.56 460.28 602.00 709.42 859.41 6.91 4.43 6% 10% 13% 4% 4% 475.15 477.77 505.63 344.41 541.83 4.94 4.16 9.21 12% 16% 15% 19% 9% 91.08 112.42 121.44 196.92 186.75 6.45 7.40 7.60 4% 8% 8% 9% 7% 194.32 266.74 279.04 281.26 342.25 8.52 6.11 5.92 5.75 3% 4% 5% 6% 6% 97.41 95.10 107.96 143.68 194.80 8.00 6.55 2.86 6.36 12.53 6% 9% 17% 8% 8% 43.74 45.81 97.74 100.70 49.50 8.06 7.27 5.17 9.99 4.05 1% 5% 7% 5% 8% 18.61 21.05 22.22 17.33 37.01 TTP - - 579.15 - 14.12 72% 0% 0% 0% 0% (302.06) (32.59) 0.83 (45.19) 28.34 TOL - - - 62.04 10.17 0% 0% 0% 0% 0% (3.89) (23.91) (50.05) 3.22 25.58 9.40 10.89 16.05 9.98 7.56 8% 7% 7% 8% 8% 212.82 183.71 124.58 200.32 264.59 EABL 2010 EPS 2008 2011 2012 2008 2009 2010 2011 2012 KA - 17.13 8.78 14.92 - 1% 1% 2% 2% 0% 168.23) 75.87 136.73 68.36 (97.64) JHL 15.96 16.59 7.96 7.96 8.27 2% 1% 2% 2% 2% 367.20 353.21 736.42 736.41 708.45 KCB 12.56 13.74 9.71 6.59 5.64 4% 4% 5% 7% 5% 35.04 32.02 45.30 66.73 78.05 TANZANIA BREWERIES LIMITED (TBL) NUMBER OF ISSUED SHARES PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) SWISSPORT TANZANIA LIMITED (SWISSPORT) NUMBER OF ISSUED SHARES (TZS Million) PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) (TZS Million) 2008 2008 67,182 56,036 436,000 2008 36,000,000 4,847 2,592 21,600 2009 2009 85,584 52,202 442,390 2009 36,000,000 5,668 3,238 20,160 2010 2010 95,603 58,986 466,000 2010 36,000,000 6,322 3,327 21,600 2011 2011 109,168 58,986 536,770 2011 36,000,000 10,238 5,671 29,520 2012 2012 115,188 44,239 513,176 2012 36,000,000 9,723 5,378 61,920 6 DSE QUARTERLY-June 2013.indd 6 7/22/13 4:45:46 PM
  7. 7. June, 2013 DSE QUARTERLY UPDATE TANZANIA PORTLAND CEMENT COMPANY LIMITED (TWIGA) TOL GASES LIMITED (TOL) NUMBER OF ISSUED SHARES PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) NUMBER OF ISSUED SHARES (TZS Million) PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) (TZS Million) 2008 37,223,686 (144.62) - 10,795 2008 179,923,100 50,193 12,595 287,877 2009 37,223,686 (890.19) - 8,748 2009 179,923,100 68,788 23,390 295,074 2010 37,223,686 (1,862.98) - 7,445 2010 179,923,100 71,929 25,101 323,862 2011 37,223,686 409.95 - 7,445 2011 179,923,100 72,774 32,386 374,240 2012 37,223,686 1,377.00 - 9,678 2012 179,923,100 92,341 33,286 467,800 TATEPA LIMITED NUMBER OF ISSUED SHARES KENYA AIRWAYS LIMITED (KA) PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) NUMBER OF ISSUED SHARES (TZS Million) PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) (TZS Million) 2008 17,857,165 6,077 6,518 9,107 2008 461,615,484 (107,729) 8,787 692,423 2009 17,857,165 (504) - 8,750 2009 461,615,484 45,968 7,951 600,100 2010 17,857,165 292 - 8,571 2010 461,615,484 89,236 12,363 553,939 2011 17,857,165 (628) - 4,732 2011 461,615,484 40,795 7,110 470,848 2012 17,857,165 99 - 7,143 2012 1,496,469,034 (201,147) - 1,481,504 7 DSE QUARTERLY-June 2013.indd 7 7/22/13 4:45:47 PM
  8. 8. June, 2013 DSE QUARTERLY UPDATE TANZANIA CIGARATTE COMPANY (TCC) NUMBER OF ISSUED SHARES PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) EAST AFRICAN BREWERIES LIMITED (EABL) NUMBER OF ISSUED SHARES (TZS Million) PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) (TZS Million) 2008 100,000,000 44,564 27,500 166,000 2008 790,578,585 225,629 121,572 1,581,157 2009 100,000,000 65,978 15,000 180,000 2009 790,578,585 194,123 111,882 1,581,157 2010 100,000,000 84,100 30,000 222,000 2010 790,578,585 212,022 116,724 1,581,157 2011 100,000,000 101,400 60,000 314,000 2011 790,578,585 215,145 121,428 1,581,157 2012 100,000,000 123,728 75,000 420,000 2012 790,578,585 285,231 129,385 1,581,157 TANGA CEMENT COMPANY LIMITED (SIMBA) NUMBER OF ISSUED SHARES PRE-TAX PROFIT DIVIDEND (TZS Million) NUMBER OF ISSUED SHARES MARKET CAPITALIZATION (TZS Million) JUBILEE HOLDINGS LIMITED (JHL) (TZS Million) PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) (TZS Million) 2008 63,671,045 43,219 7,641 118,428 2008 36,000,000 16,705 3,541 210,960 2009 63,671,045 45,830 11,397 112,061 2009 45,000,000 19,407 3,530 263,700 2010 63,671,045 44,696 15,727 120,975 2010 45,000,000 36,995 4,451 263,700 2011 63,671,045 35,448 5,476 151,537 2011 45,000,000 37,198 4,251 263,700 2012 63,671,045 51,272 6,367 152,811 2012 58,895,000 49,174 6,555 345,125 8 DSE QUARTERLY-June 2013.indd 8 7/22/13 4:45:48 PM
  9. 9. June, 2013 DSE QUARTERLY UPDATE CRDB BANK PLC (CRDB) DAR ES SALAAM COMMUNITY BANK (DCB) NUMBER OF ISSUED SHARES PRE-TAX PROFIT DIVIDEND (TZS Million) (TZS Million) NUMBER OF ISSUED SHARES (TZS Million) PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) MARKET CAPITALIZATION (TZS Million) (TZS Million) 2008 32,393,236 2,320 648 11,338 2008 2,176,532,160 60,005 4,253 326,480 2009 32,393,236 2,484 907 9,718 2009 2,176,532,160 61,922 15,236 333,009 2010 32,393,236 4,243 1,555 9,070 2010 2,176,532,160 65,637 17,400 250,301 2011 32,393,236 4,437 1,620 20,732 2011 2,176,532,160 51,013 19,589 376,540 2012 38,546,791 2,840 1,927 23,899 2012 2,176,532,160 107,702 26,118 326,480 NATIONAL MICROFINANCE BANK (NMB) NUMBER OF ISSUED SHARES PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) KENYA COMMERCIAL BANK (KCB) NUMBER OF ISSUED SHARES (TZS Million) PRE-TAX PROFIT DIVIDEND MARKET CAPITALIZATION (TZS Million) (TZS Million) (TZS Million) 2008 500,000,000 70,935 15,000 485,000 2008 2,217,777,777 111,481 41,122 975,822 2009 500,000,000 68,038 15,700 405,000 2009 2,217,777,777 109,557 38,571 975,822 2010 500,000,000 78,445 18,000 330,000 2010 2,855,061,944 176,560 64,313 1,256,227 2011 500,000,000 102,786 25,000 425,000 2011 2,855,061,944 262,488 91,643 1,256,227 2012 500,000,000 144,741 34,000 560,000 2012 2,855,061,944 314,218 62,541 1,256,227 9 DSE QUARTERLY-June 2013.indd 9 7/22/13 4:45:49 PM
  10. 10. June, 2013 DSE QUARTERLY UPDATE PRIMARY BONDS MARKET/TREASURY BILLS SUBSCRIPTION LEVELS 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 Date Type of Bond Weighted Average Yield to Maturity Weighted Average Coupon Yield Amount Tendered (TZS Bln) Over/ Under Subscr (TZS Blnh) Subsription Level (%) 6-Apr-11 2yr 8.12 7.86 40.00 136.47 96.47 341% April 200.00 379.90 179.90 190% 21-Apr-11 5yr 10.65 9.72 40.00 68.07 28.07 170% May 201.00 493.50 292.50 246% 18-May-11 10yr 1-Jun-11 5yr 13.69 13.01 40.00 129.70 89.70 324% June 100.00 151.98 51.98 152% 8.05 7.85 40.00 115.21 75.21 288% 15-Jun-11 5yr 10.76 9.76 40.00 99.05 59.05 248% 29-Jun-11 10yr 12.81 11.5 40.00 89.59 49.59 224% Amount Offered (TZS Bln) Amount Offered (TZS Bln) April to June 2011 Amount Tendered (TZS Bln) Over/ Under Subscr (TZS Blnh) Subsription Level (%) April to June 2011 July to September 2011 July to September 2011 13-Jul-11 10yr 12.64 12.259 20.00 78.67 58.67 393% July 200.00 118.82 (81.18) 59% 27-Jul-11 5yr 12.46 10.425 20.00 39.70 19.70 199% August 300.00 308.51 8.50 103% September 200.00 186.65 (13.35) 93% 10-Aug-11 5yr 12.45 10.421 9.45 29.46 20.01 312% 7-Sep-11 10yr 13.30 12.730 30.00 55.57 25.57 185% 21-Sep-11 2yr 9.59 8.075 25.00 57.84 32.84 231% 16-Nov-11 2yr 14.01 30.00 48.24 18.24 161% Oct 200 231.96 31.96 116% 5-Oct-11 5yr 35.00 38.64 3.64 110% Nov 200 234.46 34.46 117% 30-Nov-11 5yr 13.15 10.702 30.00 8.35 (21.65) 28% Dec 200 168.93 (31.07) 84% 19-Oct-11 7yr 14.99 12.74 25.00 44.31 19.31 177% 2-Nov-11 10yr 16.35 15.01 20.00 12.85 (7.15) 64% 28-Dec-11 10yr 16.98 15.51 20.00 0.93 (19.07) 5% 11-Jan-12 2yr 17.85 9.341 43.85 35.00 (8.85) 80% Jan 200 243.46 43.46 122% 7-Mar-12 2yr 13.73 8.692 75.75 30.00 (45.75) 40% Feb 300 862.03 562.03 287% 25-Jan-12 5yr 17.049 12.37 25.00 79.14 54.14 317% Mar 200 221.71 21.71 111% 21-Mar-12 5yr 14.823 11.396 35.00 47.87 12.87 137% October to December 2011 8.74 October to December 2011 January to March 2012 January to March 2012 8-Feb-12 7yr 13.84 12.077 25.00 104.35 79.35 417% 22-Feb-12 10yr 14.80 13.826 20.00 49.09 29.09 245% April to June 2012 April to June 2012 4-Apr-12 2yr 14,6289 12,5251 25.00 24.12 24.12 96% April 136 139.82 88.06 103% 18-Apr-12 10yr 14,9945 13,972 20.00 14.51 0.46 73% May 134 206.58 93.01 154% 2-May-12 2yr 14,4455 8,8028 30.00 47.55 5.00 159%% June 139 262.45 182.00 189% 16-May-12 5yr 14,9344 11,4434 30.00 31.63 15.00 105% 30-May-12 7yr 15,4466 13,0034 20.00 15.61 15.57 78% 13-Jun-12 2yr 14,7647 88255 30.00 47.62 20.00 159% 27-Jun-12 10yr 15,1633 14,0993 15.00 43.61 15.00 291% 10 DSE QUARTERLY-June 2013.indd 10 7/22/13 4:45:50 PM
  11. 11. June, 2013 DSE QUARTERLY UPDATE July to Sept 2012 11-Jul-12 July to Sept 2012 5yr 14.74 11.36 30.00 75.76 45.76 253% July 200 451.05 251.05 226% 25-Jul-12 7yr 14.85 12.65 30.00 71.01 41.01 7-Aug-12 10yr 15.06 14.02 30.00 49.49 19.49 237% Aug 330 564.30 234.30 171% 165% Sept 220 280.70 60.70 128% 22-Aug-12 2yr 13.81 8.7 43.00 108.61 65.61 253% 5-Sep-12 5yr 14.49 11.25 43.00 60.43 17.43 141% 19-Sep-12 7yr 15.06 12.78 43.00 50.08 7.08 116% 3-Oct-12 10yr 15.28 14.19 43.00 62.58 19.58 146% Oct 220 362.62 142.62 165% 17-Oct-12 2yr 13.84 8.71 43.00 75.62 32.62 176% Nov 270 444.50 174.50 165% Dec 270 384.65 114.65 142% October to December 2012 October to December 2012 31-Oct-12 2yr 14.53 11.27 43.00 62.80 19.80 146% 14-Nov-12 7yr 15.25 12.89 55.00 76.85 21.85 140% 28-Nov-12 10yr 15.82 14.6 55.00 54.06 (0.94) 98% 12-Dec-12 2yr 14.27 8.78 55.00 116.42 61.42 212% 27-Dec-12 5yr 14.94 11.45 35.00 21.80 (13.20) 62% January to March 2013 10-Jan-13 7yr 15.59 13.1 January to March 2013 55.00 38.42 (16.58) 70% Jan 250 459.60 209.60 184% 6-Feb-13 2yr 14.29 8.78 35.00 160.82 125.82 459% Feb 270 776.56 506.56 288% 20-Feb-13 5yr 14.38 11.21 40.00 116.12 76.12 290% Mar 270 337.13 67.13 125% 6-Mar-13 7yr 14.99 12.74 55.00 78.91 23.91 143% 20-Mar-13 10yr 14.28 13.44 55.00 72.89 17.89 133% 3-Apr-13 2yr 14.06 April 270 289.53 17-Apr-13 5yr 30-Apr-13 7yr 15-May-13 April to June 2013 April to June 2013 8.74 35.00 78.83 35.00 100% 15.00 11.47 40.00 41.51 40.00 100% May 270 15.20 12.86 55.00 44.48 35.78 65% June 270 10yr 15.28 14.19 46.00 34.43 34.16 74% 29-May-13 2yr 14.30 8.78 40.00 42.07 40.00 100% 12-Jun-13 5yr 14.86 11.41 44.40 67.57 44.40 100% 26-Jun-13 7yr 15.76 13.19 35.00 12.69 8.69 25% Bond 205.87 76% 382.80 311.78 115% 242.24 223.17 83% Issue Date Interest Rate Maturity Date Closing Principal (FV) Various 7.82% Various 494,670,000,000.00 Various 9.18% Various 836,384,200,000.00 Various 10.08% Various 831,110,040,000.00 Various 11.44% Various 829,606,700,000.00 2:TWO YEARS BONDS Total 2 Year Bond 5 YEAR BONDS Total 5 Year Bond 7 YEAR BONDS Total 7 Year Bond 10-YEARS BONDS Total 10 Year Bond Total Value of Outstanding Treasury Bonds 2,991,770,940,000.00 11 DSE QUARTERLY-June 2013.indd 11 7/22/13 4:45:51 PM
  12. 12. June, 2013 DSE QUARTERLY UPDATE Contact Addresses of Licensed Stock Brokers CORE Securities Ltd 4th Floor, Elite City Tower Samora Avenue, Dar es Salaam Tel: +255 22 212 3103 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 3067 orbit@orbit.co.tz Rasilimali Ltd 3rd Floor, Consolidated Holdings Building Samora Avenue, Dar es Salaam Tel: +255 22 211 1711 Fax: +255 22 212 2883 rasilimali@africaonline.co.tz Tanzania Securities Ltd 7th Floor, IPS Building Samora Avenue/ Azikiwe Street, Dar es Salaam Tel: +255 22 211 2807 Fax: +255 22 211 2809 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 210387 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: +255 22 213 1969 solomon@simbanet.net ZANSecurities Ltd Mezzanine Floor, Haidary Plaza P.O. Box 5366, Dar es Salaam Tel +255 22 2126415 Fax: +255 22 2126414 info@zansec.com 12 DSE QUARTERLY-June 2013.indd 12 7/22/13 4:45:52 PM

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