BSE experiences market upturn
03 Aug 2023
Botswana Stock Exchange has experienced a 50 per cent market capitalisation growth.
The growth has been attributed to Anglo-American PLC’s first trade on the BSE resulting in the share price moving from P244.95 to P392.
A media release from BSE says, the total market capitalisation has grown from P396 billion to P593 billion at the close of the market on August 1, registering a 50 per cent increase.
This milestone, says the release, has catapulted the BSE to be one of the leading stock exchanges in Africa in terms of size.
It further states that Anglo American PLC is currently the number one most valuable stock on the BSE with a market capitalisation of P524 billion, which is about 88.1 per cent of the entire Botswana Stock Exchange equity market.
Anglo American began the year with a share price of P244.95 and the share price increased to P392 at the close of markets on August 1 which was a 60 per cent gain the price valuation, thus ranking it first on the BSE in terms of year-to-date performance.
Commenting on this milestone, the BSE chief executive officer, Mr Thapelo Tsheole expressed delight, noting that the achievement positioned BSE as a reputable and determined entity with keen interest to drive sustainable economic growth.
“Credit to the BSE team and all stakeholders for working tirelessly to develop the market. This goes to show that our strategic objective of increasing the size of the market is bearing fruit. We look forward to greater milestones before year end in terms of trades and listings”, he said.
The BSE endeavours to elevate into an elite group of stock exchanges operating with the highest international standards graduating from affiliate to full member of the World Federation Exchanges (WFE).
The WFE is the global industry association of exchanges and clearing houses around the world and represents 250 market infrastructure providers ranging from those that operate the largest financial centres to those that run frontier markets with its members domiciled. Ends
Source : BOPA
Author : Thato Mosinyi
Location : GABORONE
Event : Press Release
Date : 03 Aug 2023