BSE freezes trading of 750m shares

Friday, May 27, 2016

The Botswana Stock Exchange (BSE) has frozen the trading of over 750 million shares, which have not been converted from paper securities certificates to electronic form under the Central Securities Depository (CSD).

The CSD was introduced in 2008 as a computer system that facilitates the holding of securities in electronic accounts in contrast to paper certificates that the exchange had been using.

Deadline for dematerialisation of shares was March 31, 2016 and the BSE says all the shares that have not been transferred to the CSD have now been placed into a dormant account where they cannot be traded.

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