Botswana Diamonds Plans IPO

Botswana Diamonds is ready to list on the Botswana Stock Exchange by the end of February as per company officials. However the Botswana Stock Exchange said Friday that it had not received an listing application as of yet.

Investors who are interested in the company hope to get an introductory price of 0.71 Pula per share that will put the Botswana Diamonds company at a value of around £7 million. The company holds exploration licenses in Botswana besides other investments which include a 35.42 percent stake in a company with exploration interests in the Democratic Republic of Congo, a small shareholding in AIM-quoted Stellar Diamonds. It also has around $2m in cash.

The company Botswana Diamonds, is actually a spin off from the AIM company African Diamonds which delisted from the Botswana Stock Exchange when it was acquired by Lucara Diamonds in late 2010. They also hope to join the London bourse in the beginning of next month. They also have plans to invest in projects in Cameroon and Zimbabwe.