BTCL IPO announcement by Honourable Minister Molefhi

Work towards the much-anticipated Botswana Telecommunications Corporations Limited (BTCL) Initial Public Offering (IPO) has reached advanced stages. The IPO has been scheduled for Friday 7th November 2014.

Among the measures to prepare for this momentous occasion, the Public Enterprises Evaluation and Privatisation Agency (PEEPA), together with the Botswana Telecommunications Corporation (BTCL) and the Ministry of Transport and Communications (MTC), are soon to commence a programme aimed at sensitising and educating the public on issues relating to the IPO. This will see further detail shared with both public and institutional investors on all aspects of the IPO.

In the IPO, Government will be offering a total of 49% of the company’s shares of which 44% will be available for purchase by citizens and citizen companies and the remaining 5% will be retained for BTCL employees.

This historic IPO is set to enter the bourse underpinned by Government’s strong drive towards citizen empowerment through increasing direct citizen participation in the ownership of national assets.

Further information on the IPO will be shared in due course.