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Maendeleo Bank (Tz) IPO
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mwekez@ji
#1 Posted : Wednesday, October 09, 2013 9:25:57 AM
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mwekez@ji
#2 Posted : Wednesday, October 09, 2013 9:31:48 AM
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> Price per share; TZS 500 (KES 27)
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mwekez@ji
#3 Posted : Wednesday, October 09, 2013 9:34:43 AM
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> Offer opened mid-August and ends Tuesday 15th October 2013
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KulaRaha
#4 Posted : Wednesday, October 09, 2013 9:39:43 AM
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Lets see what they allocate to foreigners.

Dont hold your breath.
Business opportunities are like buses,there's always another one coming
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mwekez@ji
#5 Posted : Wednesday, October 09, 2013 9:43:16 AM
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Any link to the prospectus/information memorandum?
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mwekez@ji
#6 Posted : Wednesday, October 09, 2013 10:15:24 AM
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Maendeleo Bank started business as a regional bank in September 2013, and has so far managed to register 500 customers. The bank has one branch in Dar es Salaam. Maendeleo Bank expects to turn profitable in its third year of operations, growing by 169% in its fourth year. The bank will be listed on the enterprise growth segment of the DSE and will list on 21st October. (SIB)
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Rollins
#7 Posted : Wednesday, October 09, 2013 10:39:56 AM
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mwekez@ji wrote:
Maendeleo Bank started business as a regional bank in September 2013, and has so far managed to register 500 customers. The bank has one branch in Dar es Salaam. Maendeleo Bank expects to turn profitable in its third year of operations, growing by 169% in its fourth year. The bank will be listed on the enterprise growth segment of the DSE and will list on 21st October. (SIB)


Now that the Bank will be competing with Roar, Equity et al. How do you think it will fair?
Even a BrOKeN clock is right twice a day
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mlennyma
#8 Posted : Wednesday, October 09, 2013 10:41:23 AM
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I will not associate myself with retrogressive tanzanians
"Don't let the fear of losing be greater than the excitement of winning."
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Rollins
#9 Posted : Wednesday, October 09, 2013 1:49:48 PM
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mlennyma wrote:
I will not associate myself with retrogressive tanzanians


That's a retrogressive thought. They got a population bigger than ours. Think of the lorryloads of goods that cross to TZ from your beloved motherland. Let's just pray they will drop the conservative approach they treat 'waKenya' with..
Even a BrOKeN clock is right twice a day
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murchr
#10 Posted : Wednesday, October 09, 2013 3:07:29 PM
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mwekez@ji wrote:
Maendeleo Bank started business as a regional bank in September 2013, and has so far managed to register 500 customers. The bank has one branch in Dar es Salaam. Maendeleo Bank expects to turn profitable in its third year of operations, growing by 169% in its fourth year. The bank will be listed on the enterprise growth segment of the DSE and will list on 21st October. (SIB)


Started in 2013 500 customers in a country of 40+ M??? Bure
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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guru267
#11 Posted : Thursday, October 10, 2013 3:09:10 AM
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murchr wrote:
Started in 2013 500 customers in a country of 40+ M??? Bure


NIC UG started in July 2012 and has only 93 accounts and one branch to date....
Mark 12:29
Deuteronomy 4:16
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murchr
#12 Posted : Thursday, October 10, 2013 3:46:53 AM
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guru267 wrote:
murchr wrote:
Started in 2013 500 customers in a country of 40+ M??? Bure


NIC UG started in July 2012 and has only 93 accounts and one branch to date....


Kwani bankers out there don't hawk a/cs like KE..eish? But this TZ one started in one month ago and is already calling sheep for slaughter..who was asking for their books? Laughing out loudly
"There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
.
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dunkang
#13 Posted : Thursday, October 10, 2013 4:32:12 AM
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TZ? Sio leo kaka, tafadhali siku nyengine.

TZ's attitude towards commerce should worry any non-TZ investor.

How many firms are listed on the DSE by the way. 10? 20?
Receive with simplicity everything that happens to you.” ― Rashi

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wanyina
#14 Posted : Thursday, October 10, 2013 9:50:19 AM
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Who is the local broker handling their IPO?.How is there prospectus anyone has seen it?
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mwekez@ji
#15 Posted : Saturday, October 12, 2013 3:57:30 PM
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Interesting how the chairperson starts his statement in the prospectus:

Dear Investor,

“Maendeleo Bank –Together in Progress”

“Thus says the LORD, your Redeemer, the Holy One of Israel: I am the LORD your God who teaches you to profit, who leads you in the way you should go,” (Isaiah 48:17).
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mwekez@ji
#16 Posted : Saturday, October 12, 2013 4:02:53 PM
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@wanyina, check out the prospectus at wazua@googlegroups.com
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mwekez@ji
#17 Posted : Saturday, October 12, 2013 5:55:02 PM
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Its a fair deal. Promoters are buying the shares at the same price with all other chaps and they have signed a 3 year lock-in period for all their shares (2.5M shares). Other shareholders have since bought 4.5M shares and so only 1M shares are currently up for grabs plus 1.2M green shoe shares. The investment however carrys the great risk of a start up and so risk rules are in full force.
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mpobiz
#18 Posted : Saturday, October 12, 2013 9:07:19 PM
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what do they use as collateral to acquire loans?
Is kikwete planning to issue title deeds?
Politics is just things to keep the people divided and foolish and put your trust in men and none of them can do nothing for you...
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mwekez@ji
#19 Posted : Sunday, October 13, 2013 9:07:20 AM
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mpobiz wrote:
what do they use as collateral to acquire loans?
Is kikwete planning to issue title deeds?


What are you talking about?

I know a number of companies in Tz who have mortgaged/charged their property as security to banks
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