PEEPA forecasts strong BTC IPO :: Mmegi Online

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.

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