Bodco listed on stock exchange |11 April 2014

Bodco Pty (Ltd) – the local retailer of construction material, household accessories and garden tools – is now officially listed on the Trop-X stock exchange, the licensed operator of the Seychelles Securities Exchange.

It was the company’s chief executive (CEO) and managing director (MD) Basil Soundy who had the honour of ringing the bell and blowing a lansiv shell to officially mark the listing, at the opening of the market at exactly 10am yesterday morning.

Followed was a small reception at the Trop-X offices on Eden Island. Among the guests present were former President James Mancham, Tourism and Culture Minister Alain St Ange, Trop-X chief executive Bobby Brantley, chairman of the Seychelles Chamber of Commerce and Industry (SCCI) Marco Francis, chairman of the Seychelles Hotel and Tourism Association (SHTA) John Stravens, other members of the Bodco board of directors, shareholders and staff.

Mr Soundy has described the listing as a historic and milestone event in Bodco’s history, and a new phase of the company’s growth.

He took the opportunity to announce that Bodco is currently in search of a strategic international partner who will help provide continued good service.

“We shall keep in focus what we have been doing well in the past and on what is right for the future. We will continue to provide products and services at affordable prices to the construction industry and the home-owner. We shall endeavour to seek a strategic international partner who will help us strengthen the company and its services as well as improve our operating margins and returns on capital employed,” he said.

For his part, Trop-X chief executive Bobby Brantley said that by being listed, companies voluntarily subject themselves to a higher standard of governance in exchange for benefits such as increased public profile, better credit terms and wider access to investors through the trading of stocks and shares.

He added that with Trop-X, companies have a fantastic resource that can be tapped in terms of listing structures for their clients and an opportunity to raise capital and revenue.
Bodco is the second local company after the Sacos (State Assurance Corporation of Seychelles) Group to list on the exchange.
At the opening of the market yesterday morning, its lowest shares were being traded at R100.