26 November 2012

Zambia: NAPSA Stars to Float Shares On Lusaka Stock Exchange

THE National Pensions Scheme Authority (NASPA) is considering floating shares of the NAPSA Stars Football Club on the Lusaka Stock Exchange (LuSE) to allow the business community take part in sustaining the club.

NAPSA director general Charles Mpundu said the move was aimed at raising funds to sustain the club.

Mr Mpundu said offloading shares on the stock market would help the club raise money through dividents and selling of shares.

"We want the football club to be listed on LuSE, this will help the club raise more money for sponsorship and as the original sponsors will continue putting in all we could to support its growth," he said.

NAPSA is the main sponsor of the NAPSA Stars Football Club which also won this year's K200 million Barclays Cup.

If listed, the football club will be the first football team to float shares on the stock market and this will consequently assist the team to build a strong financial base.

Mr Mpundu however, did not disclose as to when the shares would be floated on the stock market.

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