The value of Telkom`s listing increased by about R418 million after Deutsche Bank and JP Morgan Securities exercised an over-allotment option.
Deutsche and JP Morgan are the joint global co-ordinators of the listing, which took place on 4 March.
Government raised about R3.9 billion through the initial public offering, which was set at R28 a share.
Deutsche and JP Morgan say they have exercised the option to issue another R14.9 million worth of shares, representing 71.5% of the over-allotment option, an indication that there is still demand for the share.
The share price has remained relatively stable in the two weeks since the listing. Its lowest close, R27.90, was recorded the day after listing, while the following day saw the share`s highest close yet at R28.70.
Since then it has closed at levels between R28 and R28.40. By late this morning it was trading at R28.15, down 25c or 0.9% from Friday`s close.
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