Botswana Stock Exchange Limited (BSEL), is to self-list on the BSE in the coming year, an official said on Wednesday.
“We are going to self-list and we have been talking to government which is the largest shareholder in BSEL and is willing to sell its shares to the public,” chief executive officer of BSE, Thapelo Tsheole told Sunday Standard online service.
BSE has a market capitalisation of P 393 billion and is 76 percent owned by Botswana government, 18 percent by members (brokerages firm) and 5 percent by staff.
“We have briefed NBIFRA (Non-Banking Financial Institution Regulatory Authority) which is going to be the regulatory body in this case. They will have to interrogate our prospectus,” he added.
The BSE move follows that of the Johannesburg Stock Exchange, Dara Salaam Stock Exchange, Nairobi and Nigeria stock exchanges who have long moved from the status of being Limited to public entities.
Botswana, Morocco and Rwanda are following suit. But Botswana is ahead of the pack.
BSE started trading in November 1995 as a members-only club. It demutualized in 2015 when its moved from a member only organization to private limited company.
