Dar es salaam. Vodacom Tanzania investors lost at least 350 billion from their investments, after the company's market capitalization fell to 1.65 trillion during last week's close from Sh.2.01 trillion in mid-August last year.
The drop of the company's market capitalization at the Dar es salaam Stock Exchange(DSE) was a result of a fall in the share price to 740 on Friday last week from Sh 850 on Thursday.
This indicated that the number of shares traded at a price of Sh 740 was more than 0.1 per cent of the company's total market capitalization.
This indicated that the number of shares traded at a price of Sh 740 was more than 0.1 per cent of the company's total market capitalization.
The DSE market report shows that the company traded its shares at Sh 730 on Friday last week, while the share value remained at the opening of and closing price of 740. A day before the opening and closing price for Vodacom Tanzania shares were Sh 850 per share.
Through the change of price, an investor who bought 1000 shares during the initial public offer (IPO) at 850,000, will now have to sell them at 740,000.
Analysts say the fall of Vodacom share price was just a normal movement of equity market due to both supply and demands factors.
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