Botswana Telecommunications Corporation Limited (BTCL) on Friday listed on the local bourse, more than a month after the closure of its initial public offer (IPO) in which it disposed of 50 percent of its shares to citizens and other local investors.BTCL managing director Paul Taylor described the listing on the Botswana Stock Exchange as “an incredible and truly historic time for Botswana and a truly humbling moment for all of us at BTCL.”
“We now welcome thousands of citizen shareholders, more versed in what buying shares means, and keen to see BTCL thrive and reward them for their trust in us,” Taylor said.
The listing comes in the wake of a successful IPO by BTCL, which was launched in December 2015 and was oversubscribed when the offer closed in early March.
The IPO received 50,301 applications totalling 776,333,400 shares in respect of the 462,000,000 shares available to the public. This represented a 1.68 times over-subscription.