BTCL shares sale oversubscribed

Tuesday, March 15, 2016

BTCL IPO press briefing.PIC: KAGISO ONKATSWITSE

Offers to buy Botswana Telecommunications Corporation Limited (BTCL) shares exceeded the 462 million shares that were available for sale translating into an oversubscription of the Initial Public Offer (IPO) that was only open to Batswana and citizen-owned companies.

According to information released by BTCL yesterday, not only were all the shares on sale snapped up, but the uptake is likely to lead to the doubling of shareholders on the Botswana Stock Exchange (BSE) when the company lists next month.

The offer closed on March 4 after running for an extended period of eight weeks during which Batswana and citizen-owned companies were eligible to buy a minimum of 1,000 shares at P1 each.

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