Message Mar 9 Juin 2015 20:14


June 9, 2015

Honourable Alexandre B. Chikwanda M.P, Minister of Finance, in the 2015 budget address themed “Celebrating our Golden Jubilee as One Zambia One Nation by making economic independence a reality for all” stated as follows;

“LuSE listing requirements stipulate that no single shareholder should control more than 75 % of the equity in any company. This is to ensure that more of our citizens participate in the capital markets.

To comply with the listing requirements, Government will itself reduce its shareholding in ZCCM Investments Holdings PLC to 60 percent from 87 percent. The 27 percent shares will be sold to Zambian citizens as a way of entrenching economic independence of our people.”

Tranche 1 of the Government’s sell-down of 15,850,631 shares out of its total 43,811,868 ‘B’ shares (representing 27.5%) in ZCCM-IH transacted in one trade today resulting in a turnover of K570,622,716. This leaves a balance of 27,961,237 shares which will be offered to Zambian citizens and other eligible Zambian institutions in the next tranche of the Government sell-down.