A rare hostile takeover grips the market

Friday, October 11, 2024 | 2720 Views |

Landmark: PrimeTime has several well-known assets around the country PIC: PRIMETIME.CO.BW

The Botswana Stock Exchange this week froze RDC Properties’ bid for PrimeTime, while launching an investigation into “various aspects” of the offer. The planned hostile takeover has lit up a usually humdrum market, writes MBONGENI MGUNI

A committee of the Botswana Stock Exchange (BSE) has launched an investigation into RDC Properties’ attempted hostile takeover of PrimeTime, with a report due to be released in 30 days.

In the meantime, the offer circular that RDC was scheduled to publish to PrimeTime’s shareholders, has been put on hold, effectively freezing the proposed offer, at least until the BSE makes a decision.

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