Norton Rose Fulbright advises on largest ever Tanzanian IPO

04 Sep 2017

Global law firm Norton Rose Fulbright has advised on certain international aspects of the TZS 476 billion (approximately US$215 million) initial public offering of Vodacom Tanzania Public Limited Company, a leading telecommunications provider in Tanzania.

The IPO was the first such offering extended to foreign investors following a change in Tanzanian law making such an international offering possible. The company reported that approximately 40,000 Tanzanians invested in the offering, representing approximately 60% of the shares subscribed for with the remaining 40% subscribed for by international investors.

Norton Rose Fulbright advised on the extension of the offering to investors in Europe and the United Kingdom. The firm’s team was led by partners Thomas Vita and Oliver Stacey assisted by Kevin Connolly and Kayla Kirk. ENSafrica were the lead counsel on the IPO.

Norton Rose Fulbright has advised clients in the telecoms industry across Africa on a range of complex cross border M&A and joint ventures, network sharing and outsourcing, as well as advice on global regulation, disputes, licence bids, privatisations and financing and investment.

(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)