Regis Nyamakanga
8 May 2008
Johannesburg — PAN-African microfinancier Blue Financial Services will dual list on the Botswana Stock Exchange (BSE) next Thursday, joining a league of blue-chip South African companies trading on the bourse, a top company official said yesterday.
CEO Dave van Niekerk said all the company's ordinary shares listed on the JSE would be listed in the foreign company i ndex , alongside the likes of Investec and resources giant Anglo American.
"We have indicated to the market that we aim to dual list on a number of African exchanges, and are proud to announce Botswana as the first of these, " Van Niekerk said.
The company, which operates in 10 African countries, including SA, also planned to list in Zambia and Kenya.
Blue Financial Services' primary listing would remain on the JSE alternative exchange market AltX, he said.
"The listing will give potential Botswana shareholders, both private and institutional, the opportunity to hold publicly traded shares in Blue Financial Services.
"There are eight Botswana shareholders in Blue Financial Services holding less than 2% of the issued capital.
"As a pan-African operation we would like to present investors in other African countries equity participation in Blue, without diluting current shareholding. The dual listing on the BSE enables us to do just that," Van Niekerk said.
Several South African fund managers, including Investec and Allan Gray, operate in Botswana.
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