Johannesburg, 24 Feb 2003
All South African post offices will be open for trading until 6pm this evening to cater for last-minute applications for Telkom shares. Shares can also be bought at participating Standard Bank branches.
A number of post offices throughout the country were open on both Saturday and Sunday to allow for applications ahead of the cut-off at 5pm today.
Twiggs Xiphu, SA Post Office corporate services executive, says the Post Office`s extensive distribution network provides the ideal vehicle to allow maximum participation by the public in the share offer.
"Post Office counter staff have received training in assisting individuals who must fill in application forms to apply for Telkom shares to ensure swift, efficient service," he says.
Telkom is to list between 139.3 million and 167.1 million shares at a price ranging between R33.50 and R40.90.
The shares are scheduled to be listed on the JSE and the New York Stock Exchange next Tuesday. The price and allocation are also to be announced on Tuesday.
South Africans with valid identity numbers and local postal addresses can receive a 5% discount in terms of the general share offer.
The Khulisa offer favours stokvels and individuals from historically disadvantaged backgrounds. Applicants in this category qualify for discounts of 20%, with the minimum purchase being R500.
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