Key points
- Sponsoring broker Simpson McKie fixed the issue at 3,250,000 shares priced at N$9.25 each.
- The issue comprises 2,250,000 shares pre-placed to southern African institutions and 1,000,000 shares offered publicly in Namibia.
- This is the first dual listing on the NSE of a company listed on an exchange outside the common monetary area.
- The issue is scheduled to close on September 14 1994, with dealings permitted from September 29 1994.
On August 18 1994 the company will register a prospectus in final form with the Namibian stock exchange (NSE) for its listing on the NSE and the raising of N$30 million.
Its sponsoring broker, Simpson McKie, has fixed the issue at 3,250,000 shares at N$9.25 by way of pre-placing 2,250,000 shares to southern African institutions and 1,000,000 shares by public issue in Namibia.
This is the first instance of a dual listing on the NSE of a company listed on an exchange external to the common monetary area (CMA). Shares issued to CMA residents will only be good for delivery on the NSE and not on the VSE.
The price is equivalent to approximately C$2.81 calculated at the financial rand exchange rate and approximately C$3.55 at the commercial rand exchange rate.
The issue is scheduled to close on September 14 1994 with dealings permitted from September 29 1994.
