Trustco to list on NSX tomorrow

TRUSTCO Group Holdings is to be listed on the primary board of the Namibian Stock Exchange tomorrow.

In a press statement late yesterday, Trustco said the NSX listing committee had given its final approval for the listing yesterday afternoon. “The company will have a market capitalisation of more than N$440 million after listing on the NSX,” the statement said.The initial public offering (IPO) ran from September 1 to 21, and Trustco said it gained the support of more than 2 500 shareholders, of whom more than 50 per cent are foreign investors.Further, more than 30 institutions were allotted shares.”Processing of share application forms received from all over the country was ongoing until late this afternoon and many prospective shareholders missed out on the opportunity, after failing to apply for shares before the closing time of the IPO,” the statement said.It is expected that the listing – set to take place at 08h30 – will be marked with the traditional ringing of the bell by Prime Minister Nahas Angula, Deputy Chair of the NSX, Primus Hango, and Trustco Group Holdings Board Chairman Theo Frank.Shareholders can contact the following brokers to purchase or sell their shares: IJG, Simonis Storm, Namibia Equity Brokers and Investment House Namibia.Trustco said its offices would assist members of the public with any enquiries regarding trading in shares.”The company will have a market capitalisation of more than N$440 million after listing on the NSX,” the statement said.The initial public offering (IPO) ran from September 1 to 21, and Trustco said it gained the support of more than 2 500 shareholders, of whom more than 50 per cent are foreign investors.Further, more than 30 institutions were allotted shares.”Processing of share application forms received from all over the country was ongoing until late this afternoon and many prospective shareholders missed out on the opportunity, after failing to apply for shares before the closing time of the IPO,” the statement said.It is expected that the listing – set to take place at 08h30 – will be marked with the traditional ringing of the bell by Prime Minister Nahas Angula, Deputy Chair of the NSX, Primus Hango, and Trustco Group Holdings Board Chairman Theo Frank.Shareholders can contact the following brokers to purchase or sell their shares: IJG, Simonis Storm, Namibia Equity Brokers and Investment House Namibia.Trustco said its offices would assist members of the public with any enquiries regarding trading in shares.