About VODACOM PRIMARY OFFER RESULTS OUT THIS WEEK "Credit News 24" - Credit News 24, we has prepared this article well for you to read and retrieve information in it. Okay, happy reading.

VODACOM PRIMARY OFFER RESULTS OUT THIS WEEK "Credit News 24"

The results of Vodacom Tanzania initial public offer (IPO) are expected to be issued this week, the Capital Market and Securities Authority (CMSA) said on Monday.

The CMSA said the results, which will pave way for Vodacom listing, took longer than expected due to the size of IPO—476bn/- the largest in history of Dar es Salaam Stock Exchange (DSE).

The Authority Principal Public Relations Manager, Mr Charles Shirima, told 'Daily News' that the announcement would know to the public late this week. “The authority failed to complete the allotment in time due to the size of the IPO, but this week information will be out,” Mr Shirima said.

Vodacom, the giant telco, IPO ended some four weeks ago but the authority took longer than expected to issue the final results of subscription level. The South African-based firm was expected to list its shares on May 16, but this was postponed to June 13 and this has been missed also.

Some stockbrokers have it that the delay may be normal given the fact that many of the subscriber first-time stock investors—thus increasing workload. Vodacom, a Vodafone owned telco, early this month announced that more than 40 000 citizens, many of them fresh participants in the capital market, bought shares in the IPO.

“This week the authority (CMSA) will announce the IPO outcome…be patient,” a broker told 'Daily News' yesterday. When reached for a comment yesterday, Orbit Securities, Voda’s sponsoring bro kerage firm, said they are still waiting for CMSA approval.

The Vodacom IPO is priced at 850/- per share. Vodacom controls 31 per cent stake in the country’s tele-market with some 12.4 million active subscribers at end of last year.

Vodacom Tanzania was launched in 2000 and is a subsidiary of South African-based Vodacom Group, which is a unit of British mobile phone giant, Vodafone.
Title : VODACOM PRIMARY OFFER RESULTS OUT THIS WEEK "Credit News 24"
link : VODACOM PRIMARY OFFER RESULTS OUT THIS WEEK "Credit News 24"