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RESULTS OF THE INITIAL PUBLIC OFFER
The Directors of Botswana Telecommunications Corporation Limited (“Botswana Telecommunications Corporation Limited” or “the Company”) are pleased to announce that at the close of the Initial Public Offer (“IPO”), on Friday 04 March 2016, 50,301 qualifying applications for a total of 776,333,400 Shares in respect of the 462,000,000 Shares available to the public on offer in terms of the IPO had been received, representing a 1.68 times over-subscription.

Of these, applications for 414,238,800 Shares, representing approximately 90% of the 462,000,000 Shares on offer, were received from individuals and citizen owned companies, while the balance was received from institutional investors. In accordance with the principles set forth in the Prospectus dated 21 December 2015, the Allotment and Allocation Committee has met and advised the Board of Directors of the Company (the “Board”) of its decision in relation to allocation and allotment. Consequently, the Board is pleased to advise that all applicants in relation to the 462,000,000 Shares were allotted their first 900,000 Shares applied for in full. Those applying for in excess of 900,000 Shares received the first 900,000 Shares and approximately11.45% of the balance applied for.

In order to assist it in its role as market maker, Botswana Privatisation Asset Holdings has been allocated 3,000,000 Shares. The free float and spread of shareholders requirements of the Botswana Stock Exchange (“BSE”) have been satisfied.

SUMMARY STATISTICS
Summary Breakdown Shares Value (BWP) Shareholding (%)
Government of Botswana 535,500,000 535,500,000 51
Employees 52,500,000 52,500,000 5
Public (citizens) 462,000,000 462,000,000 44
TOTAL SHARES LISTED 1,050,000,000 1,050,000,000 100
Read more in the document below.

Stockbrokers Botswana Ltd coverage ( BTCL IPO results)


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