Shares for sale in privatised WASA
The Water and Sewerage Authority is being privatised and a prospectus has been released for interested investors. While Belizeans are being encouraged to purchase shares in the new entity, majority ownership is reserved for what is called a “strategic investor”, a company with a proven track record in the field of utility management. On last night’s “One on One with Dickie Bradley” government point-man on privatisation, Norris Hall, said the deal was not quite done.
Norris Hall
“We are speaking to one of several investors that are interested. We are negotiating with one and we are hoping to close the deal probably by next week. However, that is not to say the door is not open for other considerations.”
Dickie Bradley
“So if somebody busts them with a new offer, they are still in play.”
Norris Hall
“The door is not closed.”
Dickie Bradley
“What kind of money WASA is hoping to get from the sale?”
Norris Hall
“The prospectus has just been released and the government is offering for sale forty million shares at one dollar and fifty cents per share which gives you a value of sixty million dollars.”
Although callers to the show wanted to know the size of dividends they could expect if they invested, Hall and WASA’s Harry Bennett pointed out that there are no guarantees. Projections included in the prospectus, however, show that the new company expects to be increasingly profitable once new management is in place. Deadline for share purchase is March fourteenth. You can pick up a prospectus at WASA offices nationwide.
