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Stock Exchange

Botswana Stock Exchange amended listing thresholds

A reference guide of major changes to BSE’s main board and venture capital board listing requirements

Other key changes

  • Previously, an appointed Underwriter had to satisfy the Listing Committee of BSE that it has financial resources to meet its commitments. Under new listing requirements, BSE accepts irrevocable letters of undertaking in lieu of underwriting. Partial underwriting may also be considered by BSE on a case-to-case basis.
  • Listed companies are required to permanently have an appointed Sponsoring Broker.
  • Cautionary announcements relating to “Profit Warnings” must include more information, e.g. a range of expected results.
  • Written audit and review opinions must be published on X-news.
  • When a listed company declares dividend, a declaration by the Board of Directors that the company has passed the solvency and liquidity test must be submitted to BSE.
  • Trading in listed securities by key persons has to be published on X-news and Daily Market Report (DMR).