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Vodacom receives approval for an IPO

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Dar es Salaam, 28 February, 2017.Speaking at the Company’s headquarters, Vodacom Tanzania’s Managing Director, Mr. Ian Ferrao said,

“Vodacom Tanzania confirms that the Capital Markets & Securities Authority (CMSA) has approved Vodacom Tanzania Plc’s prospectus ahead of its Initial Public Offer (IPO) and subsequent listing of 25% of its shares on the Dar es Salaam Stock Exchange (DSE). Following an Extra-Ordinary Meeting held on 27 February 2017, the CMSA has approved Vodacom Tanzania offering of 560 million shares to the public at Tzs. 850 per share.

The Electronic Postal and Communications Act, as amended by the Finance Act 2016, requires all telecommunications licensees in Tanzania to have an IPO and list 25% of their shares on the DSE. The terms agreed by the CMSA values the 25% stake at Tzs 476 Bn.

Details of the IPO, including when and how eligible potential investors will be able to subscribe for Vodacom Tanzania’s shares, will be announced in due course.”

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