BTCL shares to sell at P1 each

In a notice published yesterday, the Public Enterprises Evaluation and Privatisation Agency (PEEPA) said it has valued BTCL at P800 million with its shares split into 800 million units valued at P1 each. Government plans to offer 44 percent of its BTCL shareholding to citizens and citizen-owned companies via an Initial Public Offer (IPO), retaining 51 percent and committing five percent to citizen workers.

This will translate to government retaining 408 million shares while 40 million have been reserved for the citizen workers of BTCL and 352 million available for Batswana.