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CMSA: Vodacom shares to be listed on Dar bourse next week

Orbit Securities, lead transaction advisor for the Tshs 476 billion offer, was quoted as saying it was awaiting approval of the share register by CMSA.

CMSA: Vodacom shares to be listed on Dar bourse next week

Orbit Securities, lead transaction advisor for the Tshs 476 billion offer, was quoted as saying it was awaiting approval of the share register by CMSA.

09 August 2017 Wednesday 17:08
CMSA: Vodacom shares to be listed on Dar bourse next week

By Felix Andrew

LISTING of long awaited Vodacom shares on the main market of the Dar es Salaam Stock Exchange (DSE) will be held in the Tanzania’s business city next week, the Capital Market and Securities Authority (CMSA) has said.

Speaking to the Azania Post, the CMSA Principal Public Relations Officer, Charles Shirima said almost all preparations of the event has been finalized.

The listing exercise will take place  on 15th August this year where it become the first telecommunication firm to list its share on the   Dar bourse .

Orbit Securities, lead transaction advisor for the Tshs 476 billion offer, was quoted as saying it was awaiting approval of the share register by CMSA before the stocks can be listed on the Dar-es-Salaam bourse.

More than 40,000 Tanzanians bought shares in the initial public offering, Vodacom said at the close of the deal.

Shares sold through the Vodacom Tanzania IPO were first due to be listed on May 16 this year, but this was postponed to June 12 following a three-week extension of the offer.

The Vodacom Tanzania IPO, sold at Tsh850 per share, is billed the largest public offering in East Africa’s second-biggest economy

Tanzania’s eight telcos are racing to comply with a new law passed in June last year which demands that all domestic mobile telephone providers issue at least 25 per cent of their shares on the Dar-es-Salaam Stock Exchange

However stock market expert say the level of awareness of the stock market among Tanzanians increased slightly last year.

“We have witnessed many ordinary people taking part in the stock related matters compared with the past few years. This is a clear indication that the industry is growing,” they said.

In Tanzania, the government is the major user of the stock market (98 percent) compared with other countries where the private sector takes a lead.

Azania Post

Updated: 10.08.2017 10:07
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