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IPO PRESENTATION PORTFOLIO COMMITTEE ON PUBLIC ENTERPRISES 14 SEPTEMBER 2005

IPO PRESENTATION PORTFOLIO COMMITTEE ON PUBLIC ENTERPRISES 14 SEPTEMBER 2005. Telkom IPO key statistics. R 4.3. Billion raised for the NRF 139 257 954 ordinary shares offered Issue date 4 March 2005 Good aftermarket share performance (listed at R 28 – now trading at R 125)

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IPO PRESENTATION PORTFOLIO COMMITTEE ON PUBLIC ENTERPRISES 14 SEPTEMBER 2005

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  1. IPO PRESENTATION PORTFOLIO COMMITTEE ON PUBLIC ENTERPRISES 14 SEPTEMBER 2005

  2. Telkom IPO key statistics • R 4.3. Billion raised for the NRF • 139 257 954 ordinary shares offered • Issue date 4 March 2005 • Good aftermarket share performance (listed at R 28 – now trading at R 125) • 220 educational roadshows • 1 474 501(500 000) individuals and 283 stokvesl registered • 104 379 individuals and 445 stokvels applied • Successful ESOP and Retail offer

  3. BACKGROUND Restructuring of the SA economy Restructuring of economic sectors Restructuring of SOEs SEPs, outright sales, IPO, concessions Telkom IPO

  4. Telkom IPO Pre planning • Planning Identifications of roles Timing ( approximately 1 year) Listing considerations Regulatory issues

  5. Telkom IPO • Government sale of share to SEP and BEE prior to the IPO • Amendments to the Telecommunication Act • Regulatory issues • Market conditions • Government objectives

  6. CABINET CABINET COMMITTEE IMC STEERING COMMITTEE MANCO IPO PROJECT TEAM WORKING GROUPS REPORTING LINES

  7. LISTING CONSIDERATIONS

  8. APPOINTMENT OF SERVICE PROVIDERS • Global coordinators • Syndicates • Legal specialists • Communication specialists • Advertising agencies • Event coordinators

  9. PROJECT TEAM • National Treasury • Policy department • Department of trade and industry • Government Communications and Information System • The industry regulator (the regulator) • JSE and NYSE • Organised labour

  10. LESSONS LEARNT • Planning phase • Clear government IPO objectives • Defined and complete regulatory regime and industry structure • More flexible time-table • Clear communication strategy

  11. BEE PARTICIPANTS IN THE IPO TRANSACTIONS • Reasonable work allocation and remuneration • Meaningful representation and participation in IPO structures • Participation in discussions of key issues • Maximising skills transfer opportunities

  12. What next? • IPOs are one of the options in the Govertment strategy, but only in the next 3 years • Priority is on improving the balance sheet of key SOEs and obtain certainty in sectoral policies and regulatory environement • Explore partneships with private sector • Accelereate the disposal of non-core assets and promote Broad-based BEE

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