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On 18th August, 2008, the government officially launched the sale of 21 percent of its 51 percent shares to the public through an Initial Public Offer (IPO).
NMB Chief Executive Officer, Ben Christiaanse described the public public offer as an important step that will enable thousands of Tanzanians to participate fully in ownership of the Bank.
Launching the NMB IPO in Dar es Salaam, Deputy Minister for Finance and Economic Affairs, Jeremiah Sumari urged Tanzanians to look for money to buy shares. On her part, director General of Consolidated Holding Corporation (CHC), Edwina Lupembe said that the exercise will enable Tanzanians to have shares in the national economy and participate in the Capital Markets.
The NMB shares will be sold for TZS600 per share with a minimum purchase of 100 shares. The IPO will finish September 8th, 2008. Through this process, the government expects to sell 105,000,000 shares worth TZS 63 billion.
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