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Dar investors can buy ABG in shillings

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Barrick Gold workers in one of the mines. Photo/FILE

Barrick Gold workers in one of the mines. Photo/FILE 

By ABDUEL ELINAZA  (email the author)
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Posted  Monday, March 22  2010 at  00:00

According to the prospectus seen by The EastAfrican the over allotment option will enable JP Morgan Securities Ltd (the leading sponsor of the IPO) to over allot ordinary shares up to a maximum of 10 per cent if there is strong demand of the offer.

Core Securities Ltd chief executive George Fumbuka told The EastAfrican in Dar es Salaam last week that this is practical for politicians to implement what they are debating at parliament and enable town councils surrounding the four mines to participate in IPO to own a stake.

The ABG Group has four producing mines, all located in northwest Tanzania: Bulyanhulu, Buzwagi, North Mara and Tulawaka, and seven principal exploration prospects in Tanzania, at various stages of development.

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