Vodacom Tanzania IPO: largest in history of Dar es Salaam Stock Exchange?
9 June 2017
Vodacom Tanzania’s initial public offering (IPO) is on track to be the largest in the 19-year history of the Dar es Salaam Stock Exchange (DES) after more than 40,000 Tanzanians have subscribed for shares, the company has announced. Vodacom said that due to the sheer volume of applications and the size of the Vodacom Tanzania IPO, it has taken slightly longer than initially anticipated to ensure all applications could be processed.
Vodacom Tanzania is due to list on the DSE by the end of this month, pending final verification by the Capital Market and Securities Authority (CMSA). Through its lead advisor Orbit Securities, Vodacom Tanzania has now submitted the full register of IPO participants to the CMSA, which is now undertaking the task of verifying each of the applications – many of which are said to come from first time investors.