10 Nov 2017

Vice President, Mr Mokgweetsi Masisi has commended CA Sales for having confidence in the local economy by making their debut listing in the Botswana Stock Exchange (BSE).  

Speaking at a ceremony shortly after the company listed in the main board of the local bourse recently, Mr Masisi said the company could have opted to list in the neighbouring JSE in South Africa, but due to the stability of the local economy, they instead listed in the BSE.

He said he was happy that the company, which started several years ago, had seen Botswana as an ideal place to raise capital.

“Through the listing, CA Sales became the fifth company to list under Retail and Wholesale,” he said.

He stated that the listing provided Batswana with opportunities to create wealth, saying traditionally, they had kept cattle as a form of investment.

CA Sales Initial Public Offering (IPO) was opened on October 12 this year.

Mr Masisi said the company was valued at P1.4 billion on the day of its listing.

The company shares were over-subscribed as it received 376 applications totalling 146 191 572 shares from invited investors and the public by November 1, this year for the available 136 112 994 ordinary shares offered at P3.45 each.

Mr Masisi said about P470 million was raised during the IPO. ENDS