Viettel Tanzania, which operates under the brand name Halotel, is preparing to submit an application and draft prospectus for its planned initial public offering (IPO) to the country’s Capital Markets and Securities Authority (CMSA) this month. Viet Nam News cites a statement from parent company Viettel Global as saying that it has hired ‘five compulsory consultation services for a regulated IPO transaction and is preparing its prospectus to file for the public sale this April’. Viettel Tanzania launched commercial 2G and 3G mobile services in October 2015 and had signed up over 3.4 million customers by the end of 2016.
TeleGeography’s GlobalComms Database notes that under the Finance Act of 2016, which amended the Electronic and Postal Communications Act of 2010, the government of Tanzania made it a legal requirement for the country’s telecoms operators to float 25% of their shares on the Dar es Salaam Stock Exchange (DSE). Mobile market leader Vodacom Tanzania is set to become the first operator to list its shares on the local stock market in June, having kicked off the IPO process last month.