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Zambia Sells $79 Million Mining Stake to Unidentified Buyer

MessagePosté: Mar 9 Juin 2015 21:59
de LesCrozes
Zambia Sells $79 Million Mining Stake to Unidentified Buyer
2015-06-09 18:53:13.594 GMT

By Matthew Hill
(Bloomberg) -- Zambia began the sale of shares in state mining company ZCCM Investments Holdings, as it seeks to plug a growing budget deficit.
The government sold 15.9 million shares of ZCCM-IH to a single unidentified buyer for 571 million kwacha ($79 million), according to the Lusaka Stock Exchange. Another 28 million shares are due to be sold to Zambian citizens and local institutions, bringing the total stake sale to 28 percent.
Finance Minister Alexander Chikwanda said in his October budget speech that the government would cut its shareholding in ZCCM-IH to 60 percent to meet local listing rules. The proceeds will help to cover a fiscal gap forecast by the International Monetary Fund to climb to 7.7 percent of output this year.
ZCCM-IH, based in Lusaka, the capital, holds minority stakes in the local units of companies including First Quantum Minerals Ltd., Glencore Plc and Vedanta Resources Plc. The company is the successor to Zambia Consolidated Copper Mines, which held the government’s stakes in the country’s copper operations after they were nationalized.

Re: Zambia Sells $79 Million Mining Stake to Unidentified Bu

MessagePosté: Mar 9 Juin 2015 22:11
de Clint
35,9 kwacha par action = 4,35 € !!?

Re: Zambia Sells $79 Million Mining Stake to Unidentified Bu

MessagePosté: Mar 9 Juin 2015 22:13
de Clint
Oups

Re: Zambia Sells $79 Million Mining Stake to Unidentified Bu

MessagePosté: Mar 9 Juin 2015 23:38
de mbury
OUI, 36 !!