Bank Windhoek public listing approved

WINDHOEK DENVER ISAACS

In what is expected to be the largest public offering yet on the Namibian Stock Exchange (NSX), Bank Windhoek yesterday announced the approval of its application to sell its shares publically.
Bank Windhoek Holdings Limited Chairman Koos Brandt said yesterday the business received approval for the move by the Registrar of Companies on April 19, with the prospectus and full details of the transition to follow on May 16 this year.
Namibia's only wholly locally-owned commercial bank is to be listed on the main board of the NSX by late June.
The listing will provide an opportunity to existing Bank Windhoek Holdings (BWH) shareholders to unlock value through the trading of their BWH shares on the NSX , Brandt said.
More importantly, other important stakeholders - including clients of Bank Windhoek - will be able to acquire BWH shares and participate in the ownership of the group. Full details of the public offer will be disclosed in the prospectus, Brandt said further.
Members of the public who wish to participate in the public offer are requested to collect a prospectus with an enclosed application form from their nearest Bank Windhoek branch, from stockbrokers or the NSX itself as from May 16.
Alternatively, the prospectus will be available for viewing online via Bank Windhoek Holdings' website, www.bwholdings.com.na, or from the Bank Windhoek website,www.bankwindhoek.com.na, as from the same date.
The bank has stated that it will have trained staff dedicated to assisting clients and the public with the completion of said application forms, at all full-service branches, from the date.
The public offer to subscribe for BWH shares will close on June 13. Further details about how the process will unfold is to follow in due course.