BBS lists on new BSE board

Molefe (right) rings the ceremonial bell to mark the beginning of trade on Wednesday PIC: KENNEDY RAMOKONE
Molefe (right) rings the ceremonial bell to mark the beginning of trade on Wednesday PIC: KENNEDY RAMOKONE

The Botswana Building Society (BBS) this week listed 487 million shares, representing its issued capital, on the Botswana Stock Exchange’s new Serala OTC board, marking a leap in the company’s demutualisation process.

On Wednesday, BBS directors said plans were underway to ensure the organisation graduates from the Serala board to the BSE’s main Domestic Companies Index (DCI, within the next 18 to 24 months). The DCI is the Exchange’s flagship trading platform. The BSE has three trading platforms, being the DCI, the Foreign Companies Index and the Venture Capital board. The Serala Over the Counter (OTC) board has been established to allow public interest entities to experience the rigours of the listing process, register their shares, trade them with a view to listing on the DCI.

According to the BSE rules, companies may only stay on Serala for a maximum of five years. Speaking during the registration ceremony, the bank’s managing director Pius Molefe said the company’s next step would be to approach the Bank of Botswana for a banking licence.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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