Vodacom Tanzania have received approval to list on the Dar es Salaam Stock Exchange. The IPO (Initial Public Offering) will see the mobile services provider look to raise 476 billion shillings ($212 million). Vodacom Tanzania will be looking to sell 560 million shares at 850 shillings each.
Tanzania's Capital Markets and Securities Authority have stated that the IPO will happen on 6 March 2017 and will only be open to Tanzanians as per the country's laws.
“Vodacom Tanzania confirms that the Capital Markets and Securities Authority (CMSA) has approved Vodacom Tanzania Plc’s prospectus ahead of its Initial Public Offer (IPO) and subsequent listing of 25 per cent of its shares on the Dar es Salaam Stock Exchange (DSE),” said Ian Ferrao, Managing Director of Vodacom Tanzania in a statement.
The listing is expected to be the largest in Tanzania, likely exceeding the funds raised by East Africa Breweries Limited (EABL) IPO in 2012.