Botswana Stock Exchange has announced that the exchange’s total market capitalization has grown from P396 Billion to P593 Billion registering a 50 percent increase at the close of Tuesday.
Market capitalization refers to the total value of a company’s shares which takes into account the share price and the number of shares outstanding. BSE says this milestone has catapulted the exchange to be one of the leading stock exchanges in Africa in terms of size. The increase in total market capitalization came as a result of AngloAmerican PLC’s first trade on the BSE resulting in the share price moving from P244.95 to P 392.00.
Commenting on this milestone, the BSE CEO, Thapelo Tsheole, “Expressed great joy at this development and thanked the BSE team for working tirelessly to develop the market. This goes to show that our strategic objective of increasing the size of the market is bearing fruit. We look forward to greater milestones before year end in terms of trades and listings”.