Home » News » Business » Seed Co lists on BSEL main board

Seed Co lists on BSEL main board

Publishing Date : 15 October, 2018

Author : REARABILWE RAMAPHANE

Leading certified seed producer, Seed Co International last week Friday officially listed on the main board of Botswana Stock Exchange Limited (BSEL).


Information from BSEL reveals that the international seed breeder & distributor listed 379,331,127 ordinary shares of the company issued share capital as of Friday 5th October 2018 and started trading the same day. Seed Co is one of the leading certified seed companies authorized to market seed varieties developed by itself, government and other associated seed breeders in its markets. From years of intensive investment in Research & Development (R & D) the Company is involved in the breeding, multiplication and distribution of mainly hybrid seed varieties for maize, wheat, soya beans, sugar beans, vegetables amongst other crops.


Headquartered in Gaborone the company  boasts of seed products produced from long-term scientific breeding programs ,designed to add value to farming operations , bringing with them appropriate immunity, resistance or tolerance to diseases and reliable high yield performance. Seed Co International was incorporated on the 7th of July 2000 in Botswana under the International Financial Services Centre, a tax cut fiscal framework aimed at promoting setting up of global companies in Botswana.


The Company was a wholly-owned subsidiary of Seed Co Limited, a company incorporated and domiciled in Zimbabwe, until 9 August 2018 when the shareholders of Seed Co Limited approved the unbundling and separate listing of Seed Co International. Seed Co International was partially-unbundled through a dividend-in- specie of its shares to Seed Co Limited shareholders. Seed Co Limited retained a 26% shareholding in Seed Co International. Seed Co International now a holding company of seed businesses in various countries falling under the “Seed Co” brand in Africa, excluding Zimbabwe.


Now listed on the BSEL main board the company runs the largest single out-grower scheme in the seed business in Africa and has the most extensive network of farmers, infrastructure, resources, geographical reach and technical know-how operating in over 15 countries, including Rwanda, Nigeria and Ghana amongst others. The listing of Seed Co brings a total number of BSEL domestic listed companies to twenty four 24.


Thapelo Tsheole Chief Executive Officer of Botswana Stock Exchange Limited observes that, “the listing of Seed Co underscores his exchange company’s commitment to growing the capital market in Botswana by providing a platform where companies can list and trade their shares. “This reinforces the value of listing companies on the exchange as this listing reiterates that for companies that wish to raise capital or increase visibility in the market, the stock exchange is the right avenue for that, we are happy to welcome a company of Seed Co’s stature to the market.”


Botswana market has not been spared by the current sluggish performance wave of emerging global markets. As of beginning of 2018 to date 1.2 billion pula had been traded mirroring an average daily turnover of about 6.7 million pula, lower than the 11.5 million pula experienced last year.


To date  BSE domestic market capitalization with regard to listed companies is sitting at well over 39.3 billion pula while the total market capitalization including foreign companies as well as listed  bonds stood at P410 billion, with 44 bonds issued .Of the 44 bonds listed, government bonds account for P10.2 billion market capitalization while P4.2 billion is accounted  for by  corporate bonds signaling an improvement on the bonds to P1.3 billion  so far this year compared to P268 million at close of business last year.

Cartoon

Polls

Do you think the courts will help put the UDC, BMD impasse within reasonable time ahead of the 2019 General Election?

banner_14.jpg
banner_12.jpg

POPULER BRANDS