Africa > East Africa > Tanzania > Vodacom IPO Attracts 40,000 Tanzanian Investors

Tanzania: Vodacom IPO Attracts 40,000 Tanzanian Investors

2017/06/07

Vodacom Tanzania Plc's initial public offering (IPO) has attracted over 40,000 Tanzanian investors, a lot of of them initial time participants in the capital market, the telco has said.

The IPO is set to be the major in the history of the Dar es Salaam Stock Exchange.

"We look forward to a fruitful relationship with our new shareholders as we take Vodacom Tanzania forward into a new era as a public listed company. Vodacom has a proven track record as the leading telecom in Tanzania and it is fitting that we were the initial to heed the call by the Government of Tanzania requiring licensed telco operators to inventory on the Dar es Salaam Stock Exchange," said Ian Ferrao, the firm's managing director.

Vodacom is scheduled to inventory on the DSE later this month.

The IPO, which was opened to local investors only, is targeted to raise $213 million, a 25 % stake.

Orbit Securities, Vodacom's lead advisor, said the IPO subscriber numbers will be made public once the Capital Markets and Securities Authority (CMSA) completes the verification exercise later this month.

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