Home Business CA Sales raises P470 million on the BSE

CA Sales raises P470 million on the BSE

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CA Sales raises P470 million on the BSE
DELIVERING: Masisi

A total of P470 Million was raised during CA Sales’s Initial Public Offering from October 12th to the 1st of November 2017.

Out of the total raised, P420 Million will accrue to the selling shareholders and P50 Million will accrue to the company.

When officially marking the listing of CA Sales on Botswana Stock Exchange, the Vice President, Mokgweetsi Masisi said that the anticipated market capitalization (market value) of the company on the day of listing, November 09, 2017, was P1.5 Billion.

Masisi commended CA Sales for pursuing a primary listing on the BSE saying more often than not, big companies undertake primary listings in major markets only to do a secondary listing, in developing economies, such as Botswana.

“I wish to affirm that, in the African context, companies which decide to do a primary listing in Botswana are making a wise decision because Botswana is the best place to raise capital to pursue expansion, since there is an abundant pool of capital from pension funds looking for listed assets.”

He said that he was equally elated by the opportunity presented to individual investors, particularly Batswana, who through their participation can generate wealth from capital appreciation when the share price goes up, and dividends when the company makes profit.

The Vice President further noted that that even though the country has gained a reputation for remarkable economic growth, building a spirit of self-reliance among citizens is very important.

“That is the ‘Wealth Creation’ that the BSE is promoting, and one that Government fully supports and through the CA Sales listing, Batswana have the opportunity to have a share in the company and benefit from its growth.”

Expressing confidence and belief that soon there will be significant growth in local and foreign companies accessing finance from the market through the BSE, Masisi said, “This will, in part, be due to the continued outreach and educational programmes of the BSE to international companies and investors.