Hamilton Locke is delighted to advise Botala Energy Ltd on its successful initial public offering on the ASX under the ticker code “BTE”. The strongly supported IPO raised $5 million to support its Serowe coal bed methane (CBM) Project located in Botswana.
Botala Energy Ltd is a CBM exploration and development company focused on producing reliable and dispatchable energy to meet Botswana’s domestic energy requirements, export energy to neighbouring countries and attract industries wanting reliable, renewable energy. Botala Energy will hold a 70% interest in the Serowe CBM Project, which is located in a high-grade CBM region of Botswana.
The proceeds of the IPO will primarily be used towards the exploration and development of the Serowe CBM Project and early-stage research and development of related renewable energy opportunities.
Commenting on the transaction, Hamilton Locke Partner, Shaun Hardcastle said, “We are delighted to have supported Botala Energy in this significant milestone and look forward to following its contribution to producing reliable and dispatchable renewable energy in Botswana”.
The team at Hamilton Locke was led by Partner Shaun Hardcastle and supported by Senior Associate Daniel Owen and Lawyer Jeremy O’Hara.
