Published: May 27, 2010
Botswana hotel operator plans stock market listing next month.
Cresta Marakanelo, a Botswana hotel operator, plans to make its debut on the Botswana Stock Exchange on June 17.
The Botswana Development Corporation (BDC) is selling 62mn shares in the company. This includes a private placement of 18.5mn with three local institutions and an IPO of 40.7mn shares, with the remainder placed in an employee share trust.
After the IPO, BDC will hold a 26% stake in Cresta, down from 60%.
Imara Botswana is acting as financial adviser to Cresta.