Share price drop hands BTCL sour birthday gift

The telecomm group’s shares dropped from a previous record low of 69 thebe to 68 thebe on Monday, hours after executives had marked the anniversary celebrations with a bell-ringing ceremony at the Botswana Stock Exchange (BSE). On Tuesday, BTCL sank further to the fresh record of 65 thebe,.

This week’s slide fall was the continuation of weakness seen in BTCL’s share price since it listed. Thus far this year, BTCL is the BSE’s worst performing local counter, having shed nearly 32% in value since January. Since listing at P1.15 in 2016, BTCL has only performed above that listing price between mid-2016 and mid-2018, losing value throughout the rest of the period.