CA Sales shares offer oversubscribed

Announcing the results of the company’s Initial Public Offer, CA Sales yesterday said it received 376 applications totalling 146 million shares for the 136 million shares that were on offer.

CA Sales, which will list on the main board of the Botswana Stock Exchange (BSE) today (Thursday), was selling the shares at P3.45 each. The bulk of the shares were being sold through a private placement to institutional investors with only 27 million shares offered to individual investors through an Initial Public Offer (IPO).