SOTELMA to list by June
BUSINESSBy BiztechAfrica - Feb. 27, 2012, 11:06 a.m.
Mali’s fixed line operator, SOTELMA, is expected to list on the West African regional stock exchange by June this year.
It was announced in 2008 that the Mali Government had decided to privatize SOTELMA on the advice of investment bank Linkstone Capital.
The privatisation strategy included the sale of a 51% stake to Maroc Telecom, a 20% stake to be sold in a public offer; 9% of the share capital will be reserved for the employees of Sotelma. The Government will hold a 20% share.
Sotelma is expected to list on the regional bourse between April and June, with hopes of raising up to USD200 million in the listing.
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