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Vodacom Tanzania IPO Begin

Vodacom Tanzania IPO

Tanzanian mobile network operator (MNO) Vodacom has started today its IPO for 560 million shares at TZS 850 per share.

The initial offer opens on 9tn March 2017 and closes on 19th April 2017.

The subsequent listing and commencement of trading of issued and fully paid shares on the Dar Es Salaam Stock Exchange (DSE) is set for 16th May 2017.

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Tanzania’s new Finance Bill enforced on July 1st 2016 requires Tanzanian telecom companies to list at DSE by the end of 2016.

According to the Bill, network facilities, network services, and application services licensees (including mobile operators) have to list 25% of their shares.

To date, only Vodacom and Tigo have submitted their prospectus to CMSA and only Vodacom prospectus has been approved.

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