History Made: BTCL Lists 1BN Shares

The listing followed an oversubscribed Initial Public Offer in which applications received were for a total of 776.3 million shares against the 462 million shares on offer.

The IPO offered citizen applicants a 44 percent stake in the BTCL, with government retaining 51 percent and another five percent reserved for BTCL citizen employees. The IPO raised P462 million – the largest in history – coming ahead of Choppies’ 2012 offer, which raised P350 million.