BTCL Delays Shares Offering

| November 6, 2014 | 0 Comments

The date for the launch of Botswana Telecommunications Corporation Limited’s (BTCL) Initial Public Offering (IPO) or share offering has been extended to enable Batswana to identify sources of funding.

A press release from the Ministry of Transport and Communications (MTC) says the launch date for the initial offer of BTCL shares will therefore be at a date before December 31, and as an added measure, the period of offer will also be open for a period of up to 8 weeks.

The awareness campaign about the IPO will also be extended to ensure that a wide reaching and more informative education programme is delivered.

The release says these initiatives are intended to enhance other on-going activities that are geared towards ensuring that as many citizens as possible prepare and participate in this momentous opportunity.

It further states that the MTC will continue to keep the public informed of any new details on the project, as they near the initial public offering of BTCL’s shares.

The statement also says that several citizen stakeholders as well as various institutional investors have been engaged through various forums including diPitso in Gaborone and Francistown where the support and level of interest expressed has been phenomenal.

Two key issues, however, have been raised repeatedly in these forums which MTC believed they needed address, firstly, the audiences indicated that they had limited understanding of an IPO as well as how one can participate and benefit from it.

Secondly, they requested for ample time to organise funding that they would use to purchase the shares with, in essence, that the current IPO date was too close.

Source : Ministry of Transport and Communications

Source : Botswana Daily News

Category: Business & Finance

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