In the framework of IPO Botswana Telecommunications Corporation Ltd (BTCL) is to launch on April 8, 2016, 40,000 offers were recorded at the end of submission period which ended at the beginning of March. With a share at 1 Botswana pula, the company can raise P462 million (€37 million) on Botswana Stock Exchange.

In a statement published by BTCL, Kgotla Ramaphane, PEEPA CEO, said “the total offers received are well in excess of what we expected and thus we anticipate an oversubscription”. He added that the shares allocation committee is working to guarantee “a fair and equitable allocation of shares among applicants”. Speaking on December 21, 2015, at an event where was discussed the privatization of the telecom operator, Minister of Transport and Communication, Tshenolo Mabeo said BTCL’s shares are exclusively reserved to Botswanans.

With the sum raised from listing, BTCL, which lags behind Orange and MTN in terms of provision of telecom services of quality, will be able to improve and expand its network. However, for BTCL to listed, BSE must approve.