Vodacom Tanzania has launched its initial public offering (IPO) which will see 25% of its shares listed on the Dar es Salaam Stock Exchange (DSE) on 16 May. The mobile market leader, which is majority owned by South Africa’s Vodacom Group (itself a subsidiary of UK-based Vodafone Group), will offer 560 million shares to the public at TZS850 (USD0.37) each. The terms agreed by the Capital Markets and Securities Authority (CMSA) value the 25% stake at TZS476 billion. The offer will be open between 9 March and 19 April 2017.
Under the Finance Act of 2016, which amended the Electronic and Postal Communications Act of 2010, the government made it a legal requirement for the country’s telecoms operators to float 25% of their shares on the DSE, notes TeleGeography’s GlobalComms Database.