BOTSWANA TELECOMMUNICATIONS CORPORATION LIMITED (BTCL); INITIAL PUBLIC OFFERING
The Ministry of Transport and Communications would like to update the public on the much-anticipated Botswana Telecommunications Corporation Limited (BTCL) IPO or share offering. It must be noted that an incredible amount of progress has been made to date.
Several citizen stakeholders as well as various institutional investors have been engaged through various fora 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 fora which we believe we need to address. Firstly, the audiences, especially amongst the individual citizens, 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.
To address these issues, we will extend the awareness campaign being undertaken for this IPO to ensure that a wide reaching and more informative education programme is delivered. We have also decided to extend the date for the launch of the share offer, to enable Batswana to identify sources of funding.
The launch date for the initial offer of BTCL shares will therefore be at a date before 31st December 2014. As an added measure, the period of offer will also be open for a period of up to 8 weeks.
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. The Ministry will continue to keep the public informed of any new details on the project, as we near the initial public offering of BTCL’s shares.
For further information please contact PEEPA Public Education office, Tel: 318 8807 and BTCL Tel: 317 0560 or visit our website.