Tanzania’s Vodacom files prospectus for share offering
Dar es Salaam — Vodacom Tanzania, part of SA’s Vodacom Group, has filed a prospectus with Tanzania’s capital markets regulators for an initial public offering. Tanzania’s biggest mobile phone operator filed its IPO application with the Capital Markets and Securities Authority and Dar es Salaam stock exchange on Friday, MD Ian Ferrao said on Monday. "We now await their assessment before proceeding with dates to open the offer," he said. Tanzania’s eight operators must by law have 25% local ownership by December 31. The other two major operators, Millicom subsidiary Tigo and a local unit of India’s Bharti Airtel, have not yet filed for IPOs. Industry sources said Tanzania’s mobile phone companies would probably complete the listing process in the first quarter of 2017. It was not clear if they would be fined or have their network operating licences suspended if they missed the mandatory listing deadline. The government hopes the move will bring more transparency and offer the public a...
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