CA Sales shares offer oversubscribed

Thursday, November 09, 2017

Over 146m shares were applied for from 136m shared on offer

Fast Moving Consumer Goods (FMCG) distributor, CA Sales says there was an overwhelming response to its shares sale to both institutional and individual investors with the offer oversubscribed by 107%.

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).

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