National Investments Plc (â€œNICOLâ€ or â€œCompanyâ€) is a publicly listed company incorporated in
the United Republic of Tanzania under the Companies Act 2002 and operates vide certificate of incorporation
No 41644 of 27 June 2001. However, trading of the companyâ€™s shares in the Dar Es Salaam Stock Exchange was
suspended in 2011.
NICOL has an authorized share capital of TZS 200 billion dividend into 1.6 billion shares of TZS 125 each;
37,841,218 shares of TZS 125 each have been issued and fully paid.
Incorporation & Initial Public Offerings (IPO)
Â was established as a private initiative on 25th June 2003 by a few individuals who raised equity to inaugurate its incorporation and registration. It was initially registered under the acronym NICO
, which was later changed (in 2007) to separate itself from other entities that used the same acronym. The second stage of its incorporation saw the establishmentÂ organize funds through private placements that attracted 148 shareholders contributing equity capital of 140 Million Tanzania Shillings, as of 13th December 2003.
On 6th March 2004 the Board of Directors recommended in the Annual General Meeting (AGM
) for public share subscriptions through an Initial Public Offering (IPO) to restructure the capital base. This was prompted by the need to expand NICOLâ€™s
capital structure in order to achieve the companyâ€™s mission. The IPO would enable the company to make use of untapped investment opportunities and increase shareholders wealth. TheÂ AGM
Â approved, and there afterÂ NICOL
Â sought and obtained authorization from the Capital Markets and Securities Authority, which ultimately approved for 80 Million shares of NICOL to the public.
National Investment Company Limited (NICOL) currently has got two active subsidiaries: Tanzania Fisheries Development Company Limited (TFDC)Â
andÂ Tanzania Meat Company Limited (TMCL)
was 100% owned by NICOL and had been involved in processing Nile perch for export to the European Union and other countries. However, TFDC was sold to clear some of the debt that NICOL had from the previous management.
is a meat processing company for beef and other related products. NICOL is in a joint venture with government owned National Ranching Company, with NICOL having a 51% stake in the venture.