Wilderness Safaris has launched a public offering in Botswana and South Africa, to be followed by a primary listing on the Botswana Stock Exchange and a simultaneous secondary listing on the Johannesburg Stock Exchange’s Africa Board.
 
The company said the exercise was a strategically significant step in its evolution, designed to enable it to take full advantage of growth opportunities and to give the public an opportunity to participate in its future success.
 
Chief executive Andy Payne said the company’s strategic objective was to double the number of Wilderness-owned bed nights by 2015, as well as to double the area under its influence by expanding into regions that complement its existing biodiversity footprint and experience offering.
 
“We recognise that achieving this aim will require greater access to capital markets, a broader shareholder base and a simplified corporate structure.  We also believe that our unique positioning, iconic international brand and management’s long track record of financial and operational delivery present investors with an attractive growth and performance platform,” he said.
 
The public offering of three million ordinary shares is at a price of P4,00 in Botswana and R4,56 in South Africa and is fully underwritten. Prior to the public offering the company placed 56 343 256 ordinary shares by way of a private placement, also at a price of P4,00 per share.