Grace period for BSE free float rules

Funmart has opted to leave the BSE, than face the new free float rules
Funmart has opted to leave the BSE, than face the new free float rules

Companies listed on the Botswana Stock Exchange’s (BSE) main board have a 12-month grace period to comply with a new rule requiring that a minimum of 30% of their shares be held by the public.

Known as free float, current listing rules require companies on the BSE’s main board to have 20% of their shares held by the public.  The new rules, part of a range of changes for equity listings, were initially due to come into effect on January 1, 2019.

Information gathered by BusinessWeek indicates that ahead of the January 2019 deadline, none of the affected listed companies had raised their free float levels to abide by the new requirement.

Editor's Comment
Congratulations Anicia Gaothuse!

The contest had 10 beautiful young girls as finalists and unfortunately only one could wear the crown.The judges picked Anicia Gaothuse. To all those who feel their contestant should have won ahead of Anicia for whatever reason, hardly; the judges found Anicia to be the best among the best, so desist from disrespecting our newly crowned queen on social media or anywhere else, for that matter! Each of the 10 beautiful young women had supporters...

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