Vodacom on track for Tanzania listing expected next week

Vodacom Group subsidiary, Vodacom Tanzania, has completed a number of significant milestones ahead of its IPO on the Dar es Salaam Stock Exchange, expected to take place on 15 August, 2017.

Having raised 476 billion Tanzanian shillings, the listing will be the largest in the bourse’s 19-year history, the mobile operator said.

The IPO was approved by the CMSA and will ultimately make Vodacom Tanzania compliant with its obligations under the Electronic and Postal Communications Act (EPOCA) to list at least 25% of the company.

In July, the EPOCA was amended to allow international investors to participate in the country’s telecommunication sector IPOs.

The results of the IPO showed that of the 476 billion Tanzanian shillings raised, more than 40,000 Tanzanian investors secured the bulk (60%) of the IPO.

When Vodacom Tanzania lists on the Main Investment Market Segment (MIMS) of the DSE its shares will trade under the ticker VODA.

Read: Vodacom Tanzania targets record IPO

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Vodacom on track for Tanzania listing expected next week