BSE valuation now complete
The valuation of the Botswana Stock Exchange (BSE) has been completed, paving way for the registration of an entirely new company which will also in future be listed in the stock market, Botswana Guardian understands.
This week, the BSE issued a statement to the effect that, ‘substantial progress has been made in the much anticipated demutualisation of the BSE which will see the conversion of the BSE from being a statutory body to a public company.’ The valuation of the BSE, is part of a demutualisation process, which has been made possible by the BSE Transition Act of 2015.
On Wednesday, Chief Executive, Thapelo Tsheole declined to disclose the value of BSE indicating that the minister is yet to receive the valuation report. In due course, Finance and Economic Development minister, Kenneth Matambo, will award the shareholding of the new company. “This milestone will officially separate ownership rights and trading rights of the exchange and will be in line with global trends,” said a statement.
The demutualisation of BSE, effectively means that the BSE as a bourse, will continue to operate, while an entirely new company, whose name is yet to be made, will be formed. Meanwhile, the process to name the new company to be registered has started.
Four names have been suggested. The names are, Botswana Stock Exchange Limited, Botswana Securities Exchange, Botswana Securities Exchange Group and Botswana Securities Exchange Holdings.
“The proposed names are informed by research, brand identity, the need to be world class as the vision of the BSE prescribes, and the trends in the local securities market,” said BSE. The public has been invited to air their views before the main committee takes a final decision on the name to be registered.