The government of Belize announced last week that it is offering for sale 1.8 million 'C' Ordinary Shares in Belize Telecommunications Ltd. to the public. The offering represents some 5% of the issued share capital of BTL.
The Shares will be offered only to Belizeans in multiples of 100 shares and payment will be accepted only in US dollars. The government aims to complete sale of the BTL Shares, which are being offered at a price of US$2.71 per share, by 28th October, 2005.
An Offering Memorandum containing the terms and conditions of the sale will be available at the Central Bank of Belize from 14th October, 2005.
The ownership of BTL has been mired in controversy since the government sold a controlling stake in the firm to American Innovative Communications Company (ICC), before seizing back the shares after accusing ICC of failing to pay for the stake.
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