Masunga appointed: BTCL shares edge up

SHARE   |   Tuesday, 13 December 2016   |   By Kabelo Adamson
Masunga appointed: BTCL shares edge up

Following a prolonged period without movement, BTCL share price finally sprung to life on Tuesday on the backdrop of news about the appointment of a substantive Managing Director. On Friday, BTCL board chair, Lorato Boakgomo-Ntakwana, announced the appointment of Anthony Masunga, who has been acting on the position since the departure of Paul Taylor in July this year. BTCL share price has for the better part of the year remained below its IPO price of P1.00 per share, though at some point it was 30 percent up that price. It would seem the confirmation of Masunga has reignited investors’ confidence as seen by a slight rise on the price by a Thebe to trade at 88 Thebe per share. The telecommunications company traded a volume of 245, 500 volumes of shares which accounted for more than 50 percent of the whole shares traded on the domestic equity. On Tuesday, Choppies closed the market as the only company on the red after it lost a Thebe to trade at 227 Thebe per share. The market produced P560, 898.23 as turnover from 314,495 volumes of shares.



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