BTCL IPO applications being received

By John Churu, Gaborone, Botswana

As of the 11th of January 2016, the historic public offer of shares for the Botswana Telecommunications Corporation Limited (BTCL), through the BTCL Initial Public Offering (IPO), were officially being received at all Barclays Bank branches nationwide. The 11th of January 2016 marked the Opening date of the Offer Period. Corporate and media reports suggests the IPO got off “to a steady start’”

A statement received by biztechafrica says applicants are to obtain a copy of the BTCL IPO Prospectus, complete the application form within, and submit with accompanying requirements to any Barclays Bank branch between 09h00 11th January 2016 and 17h00 04th March 2016. Applications can be submitted any time during this period, and it is advisable to avoid submitting applications too close to the Close of the Offer Period. The BTCL IPO Prospectus has 10 copies of Individual application forms within it to allow for several people (such as a family unit or members of a common group) to share one Prospectus. Each Prospectus also includes 5 copies of corporate application forms.

Shares are priced at P1.00 each, with a minimum Offer of 1,000 shares. After that, increments of 100 shares will be accepted.

The same information adds that; application forms are to be accompanied with certified copies of applicant’s Omang (ID document) and payment for shares being applied for (cash up to P10, 000 and cheque up to P500,000 written to BTCL IPO). In order to own shares, one must have a Central Securities Depositary (CSD) account.

“Applicants who do not have such an account may select a stockbroker from the options provided in the application form, and the selected stockbroker will open a CSD account on the applicant’s behalf at no cost.”

The BTCL IPO Prospectus can be found online at www.btc.bw, www.peepa.co.bw, www.bse.co.bw and www.gov.bw. Copies are also available at all BTCL and Barclays Bank Branches from 11th January 2016 onwards.

Batswana are encouraged to read the BTCL IPO Prospectus thoroughly for full understanding of the application process. To further empower Batswana with the information and understanding needed to apply for BTCL IPO shares, communications activities continue across all platforms. This is inclusive of a nationwide public education roadshow to be held throughout the Offer Period. These activities are designed to ensure maximum citizen participation in this truly history opportunity in Botswana’s history. The BTCL IPO is here and it belongs to us all. #YaRonaRotlhe

BTCL IPO Milestones You Should Know

The BTCL IPO is one way in which the Botswana Government is giving Batswana the opportunity to share in the success of BTCL, a leading ICT services provider in Botswana and the SADC region. There are a number of key milestones in the process of an IPO that one need to be aware of. Get your times, and your terms, correct with the handy guide below. 

Publication date of the Prospectus

The date the BTCL IPO Prospectus becomes available to all members of the public.

Monday 21 December 2015

Opening date of the Offer

This is the first date for receipt of applications and payment, i.e. applications start being received at Barclays Bank branches Nationwide

09:00 Monday 11 January 2016

Expected closing date of the Offer and Last date for application for the Offer

This is the last date for receipt of applications and payment, i.e. applications no longer received after this date

17:00 Friday 04 March 2016

Settlement date and expected Listing Date

All applications now evaluated and shares allocated to applicants. BTCL lists / BTCL shares are “floated” on the Main Board of the Botswana Stock Exchange

09:00 Friday 08 April 2016 

 

 

 

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