BTCL shares sale oversubscribed

BTCL IPO press briefing.PIC: KAGISO ONKATSWITSE
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.

Editor's Comment
Gov't must guard against cadre deployment

As the Botswana National Front (BNF) discusses a policy to place suitably qualified members in strategic positions, the guiding consideration should remain whether an individual is the best person to serve the country. There is nothing wrong with qualified party members applying for public positions. Political affiliation should neither disqualify a capable candidate nor give them an advantage over others. Every Motswana deserves a fair...

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