Final week for Batswana to submit offers
By John Churu, Gaborone, Botswana
As the BTCL IPO draws to a close, the BTCL and PEEPA teams held a penultimate briefing with the local press to appraise them on the situation at hand as regards the IPO. “Today’s engagement serves as an opportunity for update as we go into the final week in which Batswana can submit their Offers for BTCL shares. Everything is going according to plan and we are pleased with the progress being made, worlk which has seen the input and efforts of many,” said BTCL MD Paul Taylor.
Taylor explained when the mandate of the IPO was set, they were asked to educate Batswana widely. “For that we have executed a nationwide public education roadshow across 33 location and 66 activations. The average audience is about 1000 per day. These are Batswana who are eager to learn more about how to invest in shares and diversify their investment.”
He said his organisation together with PEEPA have produces education literature numbering 30 000 prospectuses in circulation and over 320 000 BTCL share application forms printed. “We have over 100 000 FAQs in English and Setswana and a social media community of over 26 500 peole.”
He added that all Barclays Bank Botswana branches nationwide have been and continue to be utilised. “At one point have we had less than 500 people per day submiting offers in these branches. In the final week we expect to see an increase and we anticipate it to get even better.” He further explained that in each of the branches, they have IPO champions who were purpose trained to make this as seamless as possible and as simple for Batswana as possible. “They continue to provide assistance and they are geared for the final wave of applicants in the coming week.”
Major institutions have been engaged including the Botswana defence force (BDF), prisons, university of Botswana and the police. “We also continue to engage with institutional investors, a process that began two weeks ago. To date, all of the key institutional investors have been engaged, all indications suggest that, on the whole, they seem impressed with the offer.”
The IPO offer is set to close on the 4th of March followed by a Botswana Stock Exchance listing on the 8th of the same month. “We are excited and looking forward to all the new shareholders of BTCL. When the bell rings on the 8th, we look forward to a new BTCL being born, making yet another important milestone for the business and indeed for Botswana.”