The Botswana Telecommunications Corporation Limited (BTCL) initial public offer (IPO) is reported to have been overwhelmed by citizen investors who have shown strong interest in investing in shares of the state-owned telecommunications company. BTCL Managing Director Paul Taylor said the company was “humbled by the incredible reception thus far as thousands continue to submit their offers.”
“Indeed, we have been able to engage Batswana of all ages and backgrounds, and it continues to an incredibly rewarding experience in that sense, what is clear is that there is room for more and we want to seize every opportunity to maximize citizen engagement in order to drive greater participation in this IPO,” he said.
Taylor said as the nationwide public education road-show makes its way back to the capital Gaborone after having covered over 6,000km in 31 locations across the country, Botswana citizens have made it clear that they wanted more opportunities for education. 20,000 Batswana turned out to hear more about being part of Botswana’s most historic IPO.
Taylor added the road-show continues to be a successful platform to educate Batswana about investment in shares and how to participate in the BTCL IPO. The Botswana government is selling 49 percent of its shares in BTCL to citizens.