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Business News

Thu Aug 10, 2017

Vodacom meets 476bn/- IPO target


It said in a statement that 60 per cent of the offer was raised through subscriptions by Tanzania investors and 40 per cent of the offer from international investors. “We are proud and excited that many Tanzanians have participated in the offer and supported our company.

 

We also thank investors from outside the country for their support and confidence in our company,” the telecom firm said.

 

Vodacom offered 560,000,100 ordinary shares at a price of 850/- in the country’s biggest share sale opened from March to July after the government ordered all telecommunications companies in the country to sell at least a 25 per cent stake on the Dar es Salaam exchange to boost domestic ownership.

 

“We look forward to the public investors becoming our shareholders and to the listing of our company, and to be part of our company’s vision to lead Tanzania into the digital age and change lives through technology.”

 

It was expected once completed, the IPO will boost the bourse’s capitalisation by at least 2.4 per cent to about 20.7tri/-. This is a significant landmark transaction for the country, being the largest IPO in the history of Tanzania’s capital markets and has attracted more than 40,000 Tanzanian investors, most of whom are first time participants in the capital markets in Tanzania.

 

The CMSA has approved the shareholders’ register reflecting these results, ready for crediting the allotted shares to the respective shareholders’ Central Securities Depository (CSD) accounts.

 

In accordance with the IPO timetable approved by the CMSA and included in the Addendum to the Vodacom Tanzania Prospectus, 7th August, 2017 was the official announcement date of the results of the IPO.

 

According to the statement, following completion of the CSD Accounts postings, Vodacom Tanzania shares will be listed on the Dar es Salaam Stock Exchange (DSE) on 15th August, 2017 under the ticker “VODA” and trading in the Vodacom shares shall commence on the same day.

SOURCE: DAILY NEWS


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Posted by Arwa

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