Leselihub offers shares to public

Leselihub offers shares to public

MASERU– A local billboard company, Leselihub, is issuing 150 000 shares to the public in an effort to raise M31 million before January next year.
A share is going for M206.67.

This was announced yesterday in Maseru at an investment conference held by Leselihub.

The issuing of shares will be closed on January 1, 2022 with each person being allowed to purchase up to a maximum of 10 shares.

The co-founder and executive director of Leselihub, Ntsukunyane Matete, said for the past two years they have been working tirelessly to put the company in a position to issue the shares.

He said their mandate is to help Basotho and the coming generation to build their wealth.

He said if the local companies can sell their companies’ shares to other Basotho this can allow the circulation of money locally hence stirring up the economy of Lesotho.

“Leselihub is now a private company,” Matete said.
Matete said the company was established in 2015 and in 2019 it broke the record by being the first local company in this industry to locate its billboards in all ten districts.
Matete said they realised that the majority of the billboard companies are not owned by Basotho.

He said this kind of business has a great market and has the potential to generate more money.
“Lesotho is already a huge market on its own,” he said.

Matete said they are working to increase their billboards from 44 to 200.
He said they also have several South African companies which are kin to advertise with them.
However, he said the main challenge is weak infrastructure.

“We are issuing these shares to raise M31 million which helps in improving our infrastructure,” he said.

He said in the coming 20 years, they would have built 10 000 billboards in 54 African countries.

“Africa is currently having the fastest growing economy which is in the hands of foreigners,” he said.

Matete said in the coming two years, they are going to launch Leselihub Television which will cover sports, news, business, and entertainment which will empower tourism, sport, and the entertainment industry.

Investment and Strategic Finance adviser, Lerato Sekhantši, said Leselihub has created a platform for every Mosotho to be in a position to buy the shares and be represented in the capital market.

She said the company is issuing ordinary shares where every shareholder is granted the right to vote.

She said the shareholders also have the opportunity to yield their return in the form of dividends.

Sekhantši said this is a local company that is working on enhancing other local companies so that the economy of Lesotho can grow.
She said the company will generate money through capital appreciation.
“We are speaking of 50 to 30 percent dividends payout ratio,” she said.
She said the company is going to create a platform where the shareholders will be able to sell their shares.

“Let’s take this opportunity to invest in the local market,” she said.
Rantho Ntho from the Central Bank of Lesotho in the section of Domestic Market Development said it has been their dream as a central bank since 2009 to improve the capital market in the country.

He said their main objective in building the capital market is to ensure that every Mosotho becomes a player in the capital market.
He said the central bank is not just a regulator but also a partner so as to ensure that the company effectively grows.

Ntho mentioned that African participation in the capital market is so low and hinders economic growth.

Refiloe Mpobole

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