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New Africa Properties of Botswana Surges in First Trading Day

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Sept. 28 (Bloomberg) -- New Africa Properties Ltd., Botswana’s biggest property company by market value, surged 10 percent in its first trading day after listing on the southern African nation’s bourse.

The stock was at 2.20 pula at 10 a.m. in Gaborone compared with an offer price of 2 pula a share, Thapelo Tsheole, the exchange’s business development manager, said in an interview.

“This is the biggest property listing the exchange has ever registered in its history with 2.3 billion pula ($317 million) market capitalization,” Tsheole said.

To contact the reporter on this story: Jerry Bungu in Gaborone at jbungu@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net

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