Strong response to BTCL IPO

Botswana Telecommunications Corporation Limited's (BTCL) Initial Public Offering (IPO) opened this week to a strong public reception.

According to information from the Public Enterprises, Evaluation and Privatisation Agency (PEEPA), the agency guiding government's privatisation, over 15,000 copies of the prospectus have been collected while over 10,000 copies have been downloaded within two days of the offer opening.

The Agency said BTCL has the potential to be one of the biggest IPOs in Botswana's history.

BTCL Chief Executive Officer, Paul Taylor is also optimistic the IPO could spur the company's operations. "It seems, have been thirsty for a way to diversify their investment and their income outside or even beyond the traditional means. We are humbled by the incredible reception only a few days into the offer opening period."

"This only makes us more confident in the future owners of this marvelous business," he added.

Taylor emphasised that the parastatal will fulfill government's desire to empower citizens and citizen owned entities to own national assets. "We assure the public that our distribution efforts for the BTCL IPO prospectus are intense and expansive as is deserving of such an incredibly large scale initiative."

Government has placed on offer a total of 49% of the company's shares, 44% are available for purchase by citizens and citizen companies, while the remaining 5% is reserved for BTCL employees through a Trust.