|
|
Zambia: Celtel Floats IPO Before Starting Trade On Lusaka Bourseshares Up for Grabs
 |
|
|||||||||
|
||||||||||
The Citizen (Dar es Salaam)
3 May 2008
Posted to the web 5 May 2008
The Citizen Reporter
Celtel Zambia, a subsidiary company of Celtel International which also operates in 13 other Sub-Saharan African countries including Tanzania is currently selling its shares to the public ahead of the company's listing and commencement of trading on the Lusaka Stock Exchange (LuSE) on June 11th.
The Initial Public Offer (IPO) which the company has granted to the Zambian public, institutional investors in Zambia and selected international institutional investors kicked off on Wednesday and will run up to May 20 before actual listing.
A press statement availed to The Citizen in Dar es Salaam yesterday has it that the company opened it IPO with each share worth ZMK 640.
The company Applications must be for a minimum of 700 shares and in multiples of 100 shares thereafter.
The Offer will close at 17:00 on Tuesday 20 May 2008.
Celtel International is a subsidiary of Zain Mobile Telecommunications Company K.S.C.).
The company is offering for sale of 1,040,000,000 ordinary shares in Celtel, representing 20 per cent of the share capital in Celtel Zambia.
After the IPO, Celtel Zambia intends to list 100 per cent of the share capital of the Company on the LuSE.
Commenting on the announcement, David Venn, Managing Director of Celtel Zambia, said:
"We are delighted to be opening the Offer and publishing the Prospectus.
It is very exciting to be offering shares in the Company to both the Zambian people and institutional investors, both in Zambia and internationally.
The Offer gives investors the opportunity to own a part of the leading mobile phone company in Zambia and participate in its future successes".
| |||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Copyright © 2008 The Citizen. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections -- or for permission to republish or make other authorized use of this material, click here. | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Make allAfrica.com your home page | RSS Feed | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Top | Site Guide | Who We Are | Advertising | Search | Subscribe | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
| Questions or Comments? Contact us. Read our Privacy Statement. | |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
|
| |||||||||||||||||||||||||||||
