Cresta share price climbs on listing debut

Tuesday, June 29, 2010

Cresta Marakanelo's share price climbed 10thebe to close the day on P1.55, driven by strong interest from punters eager to tap into the hospitality giant's first day of trade on the Botswana Stock Exchange (BSE).

Cresta, the domestic board's 21st counter, listed on the BSE yesterday where 352 416 shares exchanged hands in an invigorated trading session which followed the official listing ceremony.

The listing marks the end of a divestment process by the Botswana Development Corporation (BDC), which offloaded its 62.9 million shareholding in Cresta Marakanelo via a private placement, employee scheme and Initial Public Offer (IPO).

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