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BPOPF ups stake in Olympia

MBONGENI MGUNI
Shining quality: Olympia Capital Corp owns Kalahari Floor Tiles, one of Southern Africa largest floor tile manufacturers
The country's largest investor, the Botswana Public Officers Pension Fund (BPOPF), has increased its stake in Olympia Capital Corporation, one of the Botswana Stock Exchange's smallest companies.

Olympia owns Kalahari Floor Tiles and Gaborone Enterprises, earning income through sales of its products and rentals on several properties owned mainly around Gaborone. Details released by Olympia this week indicate that from 1.65 million shares in 2019, the BPOPF now holds 2.7 million in Olympia or about 4.2 percent of the BSE-listed group. 

The BPOPF was among investors who took up equity in a rights offer by Olympia, which closed last November. The group had offered its existing shareholders 35.8 million more shares as a way of paying down its loan with parent group, Olympia Capital Holdings Limited.

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Only six shareholders took up the offer, representing about 9.1 percent of the shares on offer. The balance of the shares not taken up were allocated to Olympia Capital Holdings Limited as the underwriter of the rights offer. 

The documents released this week show that another investor, Kingross Holdings, increased its stake from 1.38 million shares to 3.1 million after the rights offer. CIPA records indicate one of Kingross‘ directors is Tebatso Lekalake, also an existing director in Olympia Capital Corp. Lekalake is one of two directors seeking re-election at Olympia’s AGM due for June 30.



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