South Africa: East African Breweries cross-lists on the Dar es Salaam Stock Exchange
East African Breweries Ltd, (EABL), the leading branded alcoholic drinks company in East Africa, officially cross- listed its shares on June 29 on Dar es Salaam Stock Exchange.
EABL is the second foreign company to cross-list on the Dar es Salaam Stock Exchange. The company has traded shares on the Nairobi Stock Exchange since 1972. EABL cross-listed its shares on the Uganda Securities Exchange in March 2001 and it is now one of the few companies in East Africa to trade in every country in the region.
Mr. Kiereini, the Chairman of EABL, said the Group was committed to the East African region and cross listing on the Dar Es Salaam Stock Exchange has always been a priority for EABL.
“EABL is proudly an East African company, our award winning brands such as Tusker, Pilsner and Guinness are sold across the region and we are very pleased that Tanzanians will now have an opportunity to buy our shares as well as enjoy our world class products”.
EABL is not offering any new shares in the cross listing nor is a public offering taking place. However the cross listing will enable Tanzanians to participate in the success of the company.
Mr. Maganga, the Chairman of the Dar Es Stock Exchange, said EABL is a very profitable company and it has demonstrated extremely strong growth in the last few years.
“The cross listing of EABL shares on the Dar Es Salaam Stock Exchange will enable Tanzanian individuals and institutions to invest and participate in the growth and development of the company’, stated Mr. Maganga
He went on to say that the cross listing will allow for greater freedom in trading. “The cross listing will create increased liquidity for EABL shares and Tanzanian shareholders will now be able to trade their shares in either Nairobi, Kampala or Dar Es Salaam. The cross listing will create a larger market for potential investment”.
The cross-listing of EABL shares on the Dar es Salaam Stock Exchange, will give Tanzanian investors access to one of the most profitable companies in the East African region.
EABL has an annual turnover of US$400 million. EABL is currently the leading company in terms of market capitalization on both the Nairobi Stock Exchange and the Ugandan Securities Exchange; currently the market capitalization value is at US$ 1.275 billion. In the past five years the share value has appreciated ten fold.
In Tanzania contact Aggrey Marealle of Executive Solutions on 0748 266 782.
East African Breweries Ltd (EABL), the regions leading branded alcoholic drinks company has been in business in the region for more than 80 years.
As well as being one of the most profitable companies in East Africa, it is also the most respected having been awarded the title of “ Most Respected Company” for five years running in the PricewaterhouseCoopers Nation Media Group survey of executives across East Africa.
EABL is made up of six operating units and an associate company.
Kenya Breweries Limited, (KBL) was established in 1922 and since that time it has remained the dominant brewing company in Kenya. Tusker Lager is the company’s flagship brand.
Uganda Breweries Limited (UBL) has been Uganda’s leading brewing company since 1946. Bell Lager is the company’s flagship brand.
International Distillers Uganda (IDU) produces a wide range of spirits including the global brand Smirnoff vodka and local favorite – Waragi.
UDV (Kenya) Limited produces a wide range of spirits including global brands such as Johnnie Walker, Smirnoff vodka and Gilbey’s Gin. (EABL owns 46% of UDVK and has management control, while Diageo holds 54%)
Kenya Maltings Limited (KML) produces malt and processes barley for the Group’s brewing operations.
Central Glass Industries (CGI) manufactures bottles for the brewery operations in conjunction with other glass containers. CGI is one of the leading glass manufactures in Africa and the company exports more than 50% of its products.
EABL also has a 20% stake in Tanzania Breweries. Four EABL brands including Tusker, Guinness, Malta Guinness and Pilsner are available in Tanzania.
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