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Letshego reduces share price offer to N$3.80 and extends deadline

Letshego reduces share price offer to N$3.80 and extends deadline

For those who wish to be part of Letshego Namibia Holdings, Initial Public Offering, the company has extended the deadline to 12:00 noon Tuesday, 26 September.

Initially the deadline had been set for 22 September. In a statement Letshego said in addition to the extended deadline, Letshego Namibia has also reduced the share price offer from N$4.70 to N$3.80.

This means that all individuals who applied for shares at the N$4.70 price, will be awarded 23.5% more shares given the revised reduction in share price.

Commenting on the extended deadline and reduction in share price, Ester Kali, Letshego Namibia’s CEO said, “As is the case with all company IPO’s internationally, Letshego has set its own minimum targets in order to achieve listing objectives. We are progressing well towards these; however as of today we are not quite there yet. Extending our deadline by a few days and offering a reduced price should enable us to meet the last few hurdles towards a listing, while further enhancing the inclusive nature of our Ekwafo Letu IPO.”

The minimum number of shares applicants have to purchase remains constant at 200 per applicant. With Letshego Namibia’s reduced share price offer of N$3.80, applicants will be entitled to 47 more shares for every 200 shares they apply for.

Meanwhile, applicants can contact Letshego Namibia via the following channels for any queries.

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