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New African Properties (NAP), a Botswana Stock Exchange (BSE)

 

Botswana Stock Exchange (BSE) listed property company, New African Properties (NAP) has announced a change in 26% of its share ownership.

“This change will broaden NAP’s investor pool. This means that the move will facilitate ownership of underlying premier properties such as Riverwalk to a wider investor base,” said Tobias Mynhardt, NAP’s Managing Director.

Mr. Tobias Mynhardt
Mr. Tobias Mynhardt

 

Mynhardt also highlighted that he expects the development to create more liquidity for the shares and increase free float, which aligns with the BSE’s vision. “A wider share base is positive for investors in the company, as well as the country’s financial markets,” he added.

 

NAP listed on the BSE at the end of 2011 and has focused on providing stable, growing income streams to investors while increasing the underlying net asset value for their benefit. “The regular distributions are an attractive alternative to fixed income investments, generating higher yields. In addition these income streams, underpinned by 450 leases in 64 separate properties, increase over time which also generates capital growth”.

 

The growth in the share price since listing reflects the solid performance of the company.

NAP has its origins in a home-grown Botswana business going back to 1968. Since then it has partnered with numerous citizen individuals and institutions, who consolidated their interests in the various properties upon listing.

 

“We are excited by this development as the acquisition of the shares demonstrates confidence in the company and its established track record,” Mynhardt said.

Motswana Entrepreneur Magazine ,