Vodacom Tanzania announced yesterday that it plans to go public through the Initial Public Offer (IPO) on the Dar es Salaam Stock Exchange (DSE), with the regulator saying the submission will pass-on a systematic review process for effective compliance.
Capital Markets and Securities Authority (CMSA) is reviewing a draft prospectus of telecom firm to establish compliance on disclosure and risk factors prior to the firm’s listing.
“We are pleased to announce that we have filed our application and draft prospectus for consideration by CMSA. This document sets out our proposals on the structure and timetable for the listing,” said Vodacom Tanzania’s Managing Director Ian Ferrao.
The move by the telecom firm heads the requirements of the Electronic Postal and Communications Act, as amended by the Finance Act 2016, to have all telecommunications licensees issuing 25 per cent of their shares on the stock market.