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Vodacom to list in Tanzania next week

Staff Writer
By Staff Writer, ITWeb
Johannesburg, 10 Aug 2017
Vodacom Tanzania MD Ian Ferrao.
Vodacom Tanzania MD Ian Ferrao.

Vodacom Tanzania is preparing to list shares on the Dar es Salaam Stock Exchange (DSE) next week, in a listing which will be the largest in the bourse's 19-year history.

Vodacom Tanzania's initial public offering (IPO) raised TZS 476 billion (R2.8 billion) and Vodacom says 60% of those that participated are Tanzanian investors. The DSE listing is expected to take place on or about 15 August 2017.

"We are proud and excited that many Tanzanians have participated in the offer. We also thank investors from outside the country for their support and confidence in our company," says Ian Ferrao, MD of Vodacom Tanzania.

The IPO was approved by the Capital Markets & Securities Authority (CMSA) in Tanzania 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. Last month, the EPOCA was amended to allow international investors to participate in the country's telecommunication sector IPOs.

The Vodacom Tanzania IPO attracted interest from more than 40 000 local investors, most of whom are first time participants on the DSE, which Vodacom says will boost local participation in that country's capital markets.

Ferrao says the group is looking forward to the public coming on board as shareholders and being part of the telco's vision to lead Tanzania into the digital age.

"We remain squarely focused on ensuring the success of the IPO, a landmark transaction for the DSE, the people of Tanzania and the economy," he says.

The SA-based company is currently only listed on the Johannesburg Stock Exchange (JSE). Vodacom Tanzania was launched in 2000 and is the group's second biggest market, with 12.6 million active subscribers as at 30 June 2017.

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

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