Maputo — Hidroelectrica de Cahora Bassa (HCB), the company which operates the Cahora Bassa dam on the Zambezi in the western Mozambican province of Tete, found that demand for its shares was such that, in the public sale of shares that ran from 17 June to 12 July, it sold not the 2.5 per cent of its shares initially planned, but four per cent.
Speaking in Maputo at a ceremony announcing the result of the share offer, HCB chairperson Pedro Couto said the initial offer was for 686,887,315 shares. But the increased demand meant that the company added a further 412,132,389 shares to the offer.
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