Nawaonea wivu walionunua hisa za DSE
- Thread starter Naanto Mushi
- Start date
Silicon Valley
JF-Expert Member
- Mar 6, 2012
- 1,092
- 1,116
Silicon Valley
JF-Expert Member
- Mar 6, 2012
- 1,092
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SlimFit
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- Mar 29, 2016
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Thanks Ndungu
Silicon Valley
JF-Expert Member
- Mar 6, 2012
- 1,092
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Nakubaliana na wewe
zuberi Abraham
JF-Expert Member
- Feb 13, 2016
- 480
- 389
Wew ni Umbwe ipi hiyo
THE BROKER
JF-Expert Member
- Sep 10, 2014
- 699
- 835
Uko vizuri mdada, embu nipe uzoefu wa soko la hisa linaendaje na mimi nipige mahela
Samshan boss...mimi cjasomea acount je naweza kujiingiza kwny hii biashara bila ya kujiweka kwenye hatari kubwa? Je naanzaje?Cc: Naantombe Mushi, Expected Value na kwa niaba ya wengine.
LEARNING RESOURCES
1. Investment Analysis & Portfolio Management
Books:
Modern Portfolio Theory and Investment Analysis, Elton & Gruber, 2007, John Wiley & Sons.
Principles of Finance with Excel (CD Included), Simon Benniga, 2006, Oxford University Press Inc.
Fundamentals of Investments (3rd Edition), Alexander, Sharpe, Bailey. Prentice Hall
2. Financial & Capital Markets
Books:
Modern Financial Markets and Institutions: A practical perspective. Glen Arnold (2012), Prentice Hall Financial Time Press.
Money, Banking and Financial Market (2nd Edition), Ball, Laurence, 2011. Worth Publisher
The Economics of Money, Banking and Financial Markets, Mishkin F and Mathews K (2013). Pearson Harlow England.
3. Finacial Risk Management
Core Book:
Essentials of Financial Risk Management, 2005, Horcher, K, John Wiley & Son
Others:
Quantitative Risk Management: A practicle guide to Financial Risk, Coleman, T (2012), John Wiley & Son
Elements of Financial Risk Management (2nd Edition), Christoffersen, P., 2011, Elseiver
Investment Analysis & Portfolio Management (8th Edition), Reilly F., Brown K., Thompson
Investment Appraisal and Financial Decisions (6th Edition), Lumby S., Jones C., Thompson.
4. Advances in Corporate Finance
Core Book:
Corporate Finance. Principles and Practice (6th Edition), Denzil Watson & Antony Head (2013)
Others:
Brealey, R. Myers, S & Allen, F., 2007. Principles of Corporate Finance with S&P bind-in Card. 9th ed. McGraw- Hill International Edition.
Allen, F. and R. Michaely ‘Dividend Policy’ in Jarrow, Maksimovic and Ziemba (eds)
Handbook of Finance. (Elsevier Science, 1995).
Haugen, R. and J. Lakonishok The incredible January effect. (Homewood, Ill.: Dow Jones-Irwin, 2008)
Ravenscraft, D. and F. Scherer Mergers, Selloffs, and Economic Efficiency. (Washington D.C.:Brookings Institution, 1987)
Haya mzigo huo hapo ila take note kuna vitabu vina modern/revised editions but si issue sanaa....ni mifano na case studies zinakua updated kdgo but its 97% the same stuff. Msije mkasema Senior Boss mbinafsi/mchoyo.
Having the information is one thing, learning and applying it is another thing. Pia ni muhimu kusoma na kupitia as many journals as u possibly can as inasaidia kujua mambo mengi na ku widen ur thinking (Nimejionea from my experience).
Best of Luck.
Senior Boss (The Boss of all Bosses)
Senior Boss
JF-Expert Member
- Aug 19, 2011
- 3,405
- 3,678
Ofkoz u can even if hujasoma accounting....hapo kikubwa ni elimu ya Finance i.e. Corporate Finance.
Wapo watu kibao wamesoma Finance hawajasoma Accounting. Wamesoma ile general tu first year cz lazima mtu utakuta amesoma Accounting as a subject in his/her degree.
tax compliant
JF-Expert Member
- Jul 30, 2016
- 1,211
- 1,195
Aseeee
mtimkav
JF-Expert Member
- Aug 28, 2013
- 1,034
- 658
MKUU HUJAMALIZIA KUMPA JIBU MAANA KAULIZA ATAANZAJE? TUPO WENGI TUNAOTAKA KUFAHAMU
Babu wa Loliondo
JF-Expert Member
- Jan 31, 2012
- 323
- 105
Naona Vodacom wamepeleka prospectus yao for review,tayari kwa IPO.
Silicon Valley
JF-Expert Member
- Mar 6, 2012
- 1,092
- 1,116
Kwangu mm muhimu kuliko vyote ni Interest ya mtu kwenye hiyo Business, naamin mtu yeyote anaweza ifanya vzr tu kwa kujifunza practically pole pole , kuwa na uwelewa wa language kgd aweze kujisomea anapokutana na business terminologies , any business diploma or degree is an added advantage
Kumbuka sasa hivi wapo darasa la saba wengi tu wanya fanya International Business successful USA, CHINA , UE, DUBAI, INDIA ,JAPAN
Rashid Athumani
Member
- Jan 1, 2014
- 63
- 41
Mwenye nacho anaongezewa....
zuberi Abraham
JF-Expert Member
- Feb 13, 2016
- 480
- 389
Dar es Salaam — Vodacom Tanzania Limited is to issue shares worth up to Sh500 billion in its planned initial public offer (IPO), The Citizen has reliably learnt.
The amount - the highest in the history of IPOs in Tanzania - will help to stimulate trading activities at the Dar es Salaam Stock Exchange (DSE) as the government seeks to build an inclusive economic growth.
Currently, the net asset value (NAV) for Vodacom Tanzania is estimated to be around Sh750 billion.
However, stock market experts are of the view that since Vodacom is a well established company, its actual value would be more than what is prescribed in the company's Balance Sheet.
This means that its actual market value will be calculated basing on the rule of Premium to NAV, thanks to its excellent management, branding initiatives, investment strategies and its bullish profitability outlook.
The Premium to NAV is a pricing situation that occurs when the stock value of a closed-end mutual fund is trading at a premium to the NAV of its components. The premium arises from the optimistic sentiment of investors toward the fund, which may be due to excellent management and investment strategies.
Basically, the international rule is that the Premium to NAV for such well branded companies would range between twice or thrice the company's balance sheet, suggesting that Vodacom's actual market value will range between Sh1.5 trillion and Sh2.25 trillion.
The Electronic and Postal and Communications Act, 2010 - as amended by the Finance Act 2016 - requires Vodacom and other telecommunications companies to offload 25 per cent of their shares to the public, meaning therefore that Vodacom's IPO will range between Sh375 billion and Sh500 billion.
The highest amount to have been attained through IPO in the history of Tanzania was the Sh121.51 billion which East African Breweries Limited (EABL) launched in 2012 in placement of its 20 per cent stake in Tanzania Breweries Limited Group (TBL).
That came 14 years after the TBL was listed on the DSE in 1998 at an offer price of Sh550 per share.
Similarly, NMB's IPO - which was issued in 2008 - sought to collect Sh63 billion through the sale of the state's 21 per cent stake. It was however oversubscribed by 42 per cent.
In 2006, Tanzania Portland Cement Company (TPCC) - which trades as Twiga - issued an IPO in which it sought to raise Sh23.4 billion worth of capital from the public through the sale of authorised 53,975,900 shares. However, the IPO was oversubscribed when a total of Sh92.5 billion was raised.
In 2009, CRDB issued an IPO, seeking to raise Sh18.8 billion through the sale of five per cent of shares for the Danish International Development Agency.
Upon listing, Vodacom will raise the DSE's bar from the current market capitalization of Sh20.361 trillion to around Sh22.6 trillion.
Though the prospectus is still in its infancy stages, analysts are of the view that the firm's price will be much higher than those of other firms largely due to the fact that Vodacom is an established company which has a profitability track record.
"What matters will be its dividend policy. Otherwise, investors are enthusiastically waiting for the IPO," said the Core Securities Limited chief executive officer, Mr George Fumbuka.
The chief executive officer for Zan Securities Limited, Mr Raphael Masumbuko, echoed similar sentiments. "I have been receiving countless phone calls from investors since morning. They are really prepared," he said.
On Friday last week, Vodacom Tanzania submitted a prospectus to the Capital Markets and Securities Authority (CMSA), seeking to offload 25 per cent to the public through an IPO and subsequent listing at the Dar es Salaam Stock Exchange (DSE) as the mobile phone firm seeks to abide by the Electronic Postal and Communications Act, 2010.
Vodacom Tanzania managing director Ian Ferrao said in a statement on Sunday that his company has submitted the draft prospectus and that it was willing to working with the regulators as it moves towards an IPO, noting however that the draft prospectus will, consequently, evolve over time.
Parliament approved the Electronic and Postal and Communications Act in 2010 that among other issues, compelled telecommunication firms to offload 25 per cent of their shares and sell the same to the public through IPOs.
President John Magufuli's administration had to bring back the law in form of amendments (the Electronic and Postal Communications Act, (Cap. 306) through the Finance Bill 2016 which was passed into law in June this year in what the government said was a deliberate move to ensure that Tanzania is reaping maximum benefits from the firms' proceeds.
Apart from helping Tanzanians to earn stakes in the lucrative mobile phone industry, the move will also help the government to ascertain the actual revenues that the companies collect so they can be able to pay the right amount of taxes, the Finance and Planning Minister, Dr Phillip Mpango told the National Assembly in June.
"With this move, existing mobile phone firms will be duty-bound to list their shares on the stock market in a period of six months from July 1, 2016... ..Similarly, companies that will be registered in the country after July 1, 2016 will have to list on the stock market after two years of their operating in the country," Dr Mpango said as he moved a motion to finalise the debate on the 2016 Finance Bill.
[HASHTAG]#Nantoombe[/HASHTAG] Mushi
Mzigo mwingine huu
The amount - the highest in the history of IPOs in Tanzania - will help to stimulate trading activities at the Dar es Salaam Stock Exchange (DSE) as the government seeks to build an inclusive economic growth.
Currently, the net asset value (NAV) for Vodacom Tanzania is estimated to be around Sh750 billion.
However, stock market experts are of the view that since Vodacom is a well established company, its actual value would be more than what is prescribed in the company's Balance Sheet.
This means that its actual market value will be calculated basing on the rule of Premium to NAV, thanks to its excellent management, branding initiatives, investment strategies and its bullish profitability outlook.
The Premium to NAV is a pricing situation that occurs when the stock value of a closed-end mutual fund is trading at a premium to the NAV of its components. The premium arises from the optimistic sentiment of investors toward the fund, which may be due to excellent management and investment strategies.
Basically, the international rule is that the Premium to NAV for such well branded companies would range between twice or thrice the company's balance sheet, suggesting that Vodacom's actual market value will range between Sh1.5 trillion and Sh2.25 trillion.
The Electronic and Postal and Communications Act, 2010 - as amended by the Finance Act 2016 - requires Vodacom and other telecommunications companies to offload 25 per cent of their shares to the public, meaning therefore that Vodacom's IPO will range between Sh375 billion and Sh500 billion.
The highest amount to have been attained through IPO in the history of Tanzania was the Sh121.51 billion which East African Breweries Limited (EABL) launched in 2012 in placement of its 20 per cent stake in Tanzania Breweries Limited Group (TBL).
That came 14 years after the TBL was listed on the DSE in 1998 at an offer price of Sh550 per share.
Similarly, NMB's IPO - which was issued in 2008 - sought to collect Sh63 billion through the sale of the state's 21 per cent stake. It was however oversubscribed by 42 per cent.
In 2006, Tanzania Portland Cement Company (TPCC) - which trades as Twiga - issued an IPO in which it sought to raise Sh23.4 billion worth of capital from the public through the sale of authorised 53,975,900 shares. However, the IPO was oversubscribed when a total of Sh92.5 billion was raised.
In 2009, CRDB issued an IPO, seeking to raise Sh18.8 billion through the sale of five per cent of shares for the Danish International Development Agency.
Upon listing, Vodacom will raise the DSE's bar from the current market capitalization of Sh20.361 trillion to around Sh22.6 trillion.
Though the prospectus is still in its infancy stages, analysts are of the view that the firm's price will be much higher than those of other firms largely due to the fact that Vodacom is an established company which has a profitability track record.
"What matters will be its dividend policy. Otherwise, investors are enthusiastically waiting for the IPO," said the Core Securities Limited chief executive officer, Mr George Fumbuka.
The chief executive officer for Zan Securities Limited, Mr Raphael Masumbuko, echoed similar sentiments. "I have been receiving countless phone calls from investors since morning. They are really prepared," he said.
On Friday last week, Vodacom Tanzania submitted a prospectus to the Capital Markets and Securities Authority (CMSA), seeking to offload 25 per cent to the public through an IPO and subsequent listing at the Dar es Salaam Stock Exchange (DSE) as the mobile phone firm seeks to abide by the Electronic Postal and Communications Act, 2010.
Vodacom Tanzania managing director Ian Ferrao said in a statement on Sunday that his company has submitted the draft prospectus and that it was willing to working with the regulators as it moves towards an IPO, noting however that the draft prospectus will, consequently, evolve over time.
Parliament approved the Electronic and Postal and Communications Act in 2010 that among other issues, compelled telecommunication firms to offload 25 per cent of their shares and sell the same to the public through IPOs.
President John Magufuli's administration had to bring back the law in form of amendments (the Electronic and Postal Communications Act, (Cap. 306) through the Finance Bill 2016 which was passed into law in June this year in what the government said was a deliberate move to ensure that Tanzania is reaping maximum benefits from the firms' proceeds.
Apart from helping Tanzanians to earn stakes in the lucrative mobile phone industry, the move will also help the government to ascertain the actual revenues that the companies collect so they can be able to pay the right amount of taxes, the Finance and Planning Minister, Dr Phillip Mpango told the National Assembly in June.
"With this move, existing mobile phone firms will be duty-bound to list their shares on the stock market in a period of six months from July 1, 2016... ..Similarly, companies that will be registered in the country after July 1, 2016 will have to list on the stock market after two years of their operating in the country," Dr Mpango said as he moved a motion to finalise the debate on the 2016 Finance Bill.
[HASHTAG]#Nantoombe[/HASHTAG] Mushi
Mzigo mwingine huu
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