Vodacom’s Tanzania unit received regulatory approval to extend the deadline of its share sale for three weeks, allowing investors more time to take part in the country’s biggest initial public offering (IPO) to date. The offer would now expire on May 11, Ian Ferrao, MD of the Vodacom-owned business, said in a statement on Tuesday. The extension would give retail and institutional investors more time to take part, he said. "Vodacom Tanzania expects a continued influx of applications for shares during the course of this week," Ferrao said. Vodacom, the Johannesburg-based operation of UK’s Vodafone Group, is offering 476-billion shillings ($213m) of shares in the mobile operator after the government ordered all telecommunications companies in the country to sell at least a 25% stake on the Dar es Salaam exchange to boost domestic ownership. Once completed, the sale will boost the bourse’s capitalisation by at least 2.4% to about 20.7-trillion shillings, according to data on its website...
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