Vodacom Tanzania debuts on Dar es Salaam Stock Exchange
Vodacom Tanzania on Tuesday completed the largest initial public offering (IPO) in the 19-year history of the Dar es Salaam Stock Exchange (DSE).
Having raised approximately R2.9 billion (TZS 476 billion), Vodacom Tanzania also became the first to comply with recent regulatory changes requiring all of Tanzania’s telecommunications companies to list at least 25% on the DSE.
Listed on the Main Investment Market Segment (MIMS) of the DSE under the ticker VODA, shares in Vodacom Tanzania closed at TZS 900, almost 6% higher than the TZS 850 listing price.
More than 40,000 Tanzanian investors participated in the IPO, along with all major pension funds, which ultimately invest on behalf of a large part of the Tanzanian population.
Last week Vodacom concluded a R35 billion acquisition of a 35% stake in Kenya telecommunications company, Safaricom.
Read: Vodacom on track for Tanzania listing expected next week
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