BTCL bounces back

SHARE   |   Wednesday, 04 January 2017   |   By Kabelo Adamson
BTCL bounces back

BTCL’s share price has completed a full recovery after struggling for months and is now within towards its Initial Public Offering (IPO) price of 100 Thebe a share. On Wednesday, BTCL shares traded at 99 Thebe per share, bouncing from the 86 Thebe per share that the company had registered as the lowest share price since listing. Its share price started to recover shortly after the confirmation of Anthony Masunga as the substantive Managing Director of the company following the departure of Paul Taylor, the man who oversaw the listing of the company. On Wednesday, and the fourth day of the year, BTCL was the only entity which closed the day on green after gaining a Thebe.Two commercial banks, Barclays and Stan Chart were all on the red with former losing a Thebe to trade at 503 Thebe whereas the latter lost a total of 15 Thebe, thereby ending the day trading at 760 Thebe per share.The two were joined by property company Turnstar, which lost 4 Thebe to close business trading at 321 Thebe per share. Other stocks did not register any changes with the equity market recording P296, 850.76 as turnover.



Experience Africa