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Country plans IPO of state telecoms firm

December 15, 2015 2:15 PM

Botswana's Public Enterprise Evaluation and Privatisation Agency (PEEPA) said it had valued BTCL at 800 million pula ($72 million), with its shares split into 800 million units valued at one pula each.

Country plans IPO of state telecoms firm

Botswana's first privatisation of a state-owned firm will see 352 million Botswana Telecommunications Corporation Ltd (BTCL) shares being sold to citizens at one pula each before the end of the year, the communications minister said on Tuesday.

Botswana's Public Enterprise Evaluation and Privatisation Agency (PEEPA) said it had valued BTCL at 800 million pula ($72 million), with its shares split into 800 million units valued at one pula each.

"We plan to launch the IPO before the year ends. We have also requested the Botswana Stock Exchange (BSE) for an extension of the IPO period from the normal four weeks to eight week so as to give Batswana more time to purchase the shares which are reserved for citizens only," communications minister Tshenolo Mabeo told Reuters.

($1 = 11.0132 pula)

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