PEEPA forecasts strong BTC IPO

ublic Enterprises Evaluation and Privatisation Authority (PEEPA) expects a strong response to the Botswana Telecommunication Corporation Limited (BTCL)’s Initial Public Offer at the end of August, in what will be the first sale of the state owned entity.

According to the agency, the IPO will be open to both citizens and citizen-owned organisations, although allocations between the two classes of investors are yet to be decided upon. The latest developments follow Cabinet approval of BTCL’s privatisation four years ago with up to 49% due to citizens and citizen companies, while up to 5 percent will remain strictly for BTC citizen employees.

On Wednesday, PEEPA CEO, Kgotla Ramaphane told BusinessWeek that the agency expected positive market response to the IPO, gauging by the robust public interest in the share sale ever since plans for it were made public in 2010.

Editor's Comment
Let us all go to vote

Figures released by the country’s electoral management body have shown that a total of 1, 037, 684 people have registered to vote.However, eligible voters could be discouraged by events leading to the voting day like poor execution of advance voting amid talks that the elections could be unfair.There have also been threats by certain opposition politicians that shall the elections not be free and fair, they will halt them.Despite these...

Have a Story? Send Us a tip
arrow up