In the first week of trading on Botswana Stock Exchange (BSE)’s new Serala platform Botswana Building Society Limited (BBS) has shown good success with over 32 000 shares traded in the second week of trading.
BBS limited is the first company to trade on the newly launched Serala over the counter platform. The platform allows unlisted companies to trade on BSE. According to the weekly report by Imara Capital Securities, for the trading week ending 07 September 2018 (BBS having registered on the Serala platform on Monday 03 September), 166,626 shares were traded worth P183,289.00 while on September 14, and 32,236 shares were traded worth P35, 460.
In response to BG Business questionnaire, BBS Head of Marketing and Communications, Sipho Showa said acquisition of shares was a resounding success.“Many former Botswana Building Society shareholders bought ordinary shares in the new entity being BBS Limited.
Customers bought the ordinary shares using shares then known as Paid Up, Subscription and Indefinite Period Shares under the then Building Society. 25,862 existing shareholders bought a combined 487 million ordinary shares in BBS Limited. He highlighted that BBS Limited will consider an IPO about two to three yearspost commercial bank operation. Currently, BBS Board indicated that they will submit the application for the commercial banking license at Bank of Botswana in the next few weeks.