Vodacom Tanzania seeks to raise $213m in IPO

Vodacom's Tanzanian subsidiary received approval on Tuesday to list on the Dar es Salaam Stock Exchange and aims to raise Tsh476 billion ($213 million) in the IPO, the market regulator said.

Vodacom plans to sell 560 million shares at Tsh850 ($0.38) each, said Charles Shirima, the public relations manager at the Capital Markets and Securities Authority.

He said the initial public offering was scheduled to take place on March 6.