BPOPF ups shareholding in Tlou Energy :: Mmegi Online

The Botswana Public Officers Pension Fund (BPOPF) has increased its equity stake in fast-emerging energy developer Tlou Energy to 16.63%, affirming its confidence in the Botswana Stock Exchange-listed company.

The pension fund snapped up about 61.3 million additional shares amounting to 5.65 million Australian dollars (A$) (P50m) under the second round of an offer by Tlou that was initially closed in January. The new shares take BPOPF’s total equity in Tlou to approximately 208.5 million shares.

Under the original offer, Tlou had given its shareholders the right to purchase 379.6 million shares, with investors eligible to subscribe for four shares for each 11 they already held. Of the shares offered, applications were made for 32.5 million shares raising A$1.1 million (P9.7 million) by the closing date of January 31.

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