FAR Property Company (FPC) listed on the Botswana Stock Exchange (BSE) domestic main board on Wednesday morning, becoming the sixth property company to list on the bourse. BSE CEO Thapelo Tsheole described the listing of FPC as good development to the local bourse in the sense that it will increase the market capitalisation of the stock market to over P5.4 billion.
FPC becomes the second company to list since the beginning of the year, following Botswana Telecommunications Corporation Limited (BTCL) last month and Tsheole believes such listing will in addition improve the turnover. The listing of FPC takes the number of companies listed on the domestic main board to 24 and the total companies on the BSE to 33 companies. Furthermore, the BSE has eight bonds and four Exchange Traded Funds (ETFs).
The BSE, according to Tsheole, has lined initiatives that will improve the local stock market and has said they will this year join league of stock exchanges which advocate for green finance. FPC, a property company co-founded by Ramachandran Ottapathu and Farouk Ismail, listed at a price of 257 Thebe per share.