Letter to the Editor-Buying of shares in SACL |14 February 2006
I guess those responsible for the selling of the shares think there are some 60,000 Seychellois above the age of 18 who may be interested.
It is good to give each Seychellois adult the opportunity to buy a share in a private business activity, and the price is attractive which makes it affordable for any person who wishes to invest in the new company.
I wonder how many of the 60,000 people will be interested in buying the shares. Buying shares by the public and transactions in this activity are new. That is why the public should be given as much information as possible. This opportunity should be publicised abundantly.
My guess, based on the spending pattern of our people, is that only a few thousand will come forward to buy the shares. Some people, because of the lack of information, know little about the privatization project. Others, because the activity is new, will be undecided about the investment opportunity.
I suggest that after the first offer, and if shares are still available, these should be offered back to the public if they have the money to buy more. If the majority of the 60,000 adult Seychellois targeted do not buy the shares, for one reason or another, other persons should not be prevented from acquiring 100 shares or so.
There is nothing wrong with that as long as everybody has been given the opportunity to invest.
I prefer seeing 4000 people owning 50 shares each than five people owning 1000 shares each.
4000 people will still represent the public.
It is important that the exercise succeeds and owning of shares becomes popular.
G. Henriette