Get Guardian on GoogleContinental Reinsurance Holdings Limited has strengthened its proposed listing on the Botswana Stock Exchange (BSE), with its promoter-controlled shareholder, ACA Cornerstone Limited, committing to retain its entire shareholding for at least five years after the listing.
The commitment, disclosed in a supplementary prospectus approved by the BSE, changes the original offer structure under which ACA Cornerstone had contemplated selling its stake.
The shareholder will now retain all 253,951,336 existing shares, representing 14.8 per cent of the current shareholding and approximately 11.9 per cent of the enlarged share capital after the contemplated new shares are issued.
The retention undertaking is subject to specified conditions and is intended to demonstrate the promoter’s continued commitment to the reinsurer beyond the public offer.
The Group Managing Director, Mutsunge Lawrence Nazare, said the revised offer structure reflected investor feedback and reinforced the company’s long-term commitment to the business.
The development comes as the group reported improved financial performance in the six months ended June 30, 2026, with profit before tax rising by 352 per cent to P79.2 million, compared with P17.5 million in the corresponding period of the previous year.
Profit after tax also rose by 902 per cent to P64.4 million from P6.4 million, while insurance revenue grew by 2.4 per cent to P1.213 billion. The underwriting margin improved to 6.8 per cent from 4.2 per cent.
