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Lusaka Stock Exchange

REIZ to offload 162 ordinary shares

MWILA NTAMBI, Kitwe
IN a bid to raise about US$8 million capital, Real Estates Investments of Zambia (REIZ) PLC has announced its plans to offer over 162 million new ordinary shares on Lusaka Securities Exchange (LuSE).
According to a notice of an extraordinary general meeting posted on the LuSE website by REIZ company secretary and finance manager Louis Pulu, the new ordinary shares will be offered through a renounceable rights offering.
“The company is planning to offer new ordinary shares via a renounceable rights offering in favour of the shareholders of the company on the terms and subject to the conditions set out in an offer document that will be mailed to shareholders at a later date,” the notice reads.
REIZ wants to raise a total of US$8,727,202 through the rights issue and the company’s directors have recommended the issuance and CLICK TO READ MORE