Will Vodacom allow foreigners to buy shares after missing target?

Vodacom Tanzania Plc, which recently offered 25 per cent of its shares in an initial public offering, has failed to meet the set threshold, raising questions about the ability of Tanzanians to absorb shares of the country’s largest telco.

The IPO, offered on March 9, closed on April 19 and failed to raise the Tsh560 billion ($248.5 million) exclusively allocated to Tanzanians.
Vodacom Tanzania, a subsidiary of Vodafone Group, on April 19, extended the offering for three more weeks to give time for investors to purchase the shares.