GABORONE, Oct 31 – Stanbic Bank Botswana, a subsidiary of South Africa’s Standard Bank Group, has launched an initial public offering (IPO) of a 20% stake in the lender, paving the way for its listing on the Botswana Stock Exchange.
The offering comprises 319.4 million existing shares priced at 4.30 pula each, valuing the transaction at approximately 1.37 billion pula ($94 million), according to a company statement released on Friday.
Stanbic Africa Holdings, the selling shareholder, is offering the shares and will retain an 80% ownership stake in the Botswana unit following the transaction.
Of the shares available, 63.9 million have been allocated to retail investors, with the remaining shares reserved for institutional investors.
The bank said the proposed listing is intended to broaden local ownership, promote citizen economic empowerment and increase participation in Botswana’s domestic capital markets.
The public offer is scheduled to close on November 27, with trading in the shares expected to commence on December 7.
The IPO marks the third share offering on the Botswana Stock Exchange in recent weeks, following a decade-long period without new listings.
The transaction represents an opportunity for local retail and institutional investors to acquire an ownership interest in one of Botswana’s established commercial banks, while allowing Standard Bank Group to maintain majority control through its 80% stake.
The listing also comes as Botswana’s capital market experiences renewed activity after an extended period of limited new equity offerings.
