Funds from market to enhance its investment portfolio in medium term
MWILA NTAMBI
Kitwe
THE Zambia Forestry and Forests Industries Corporation (ZAFFICO) says it hopes to raise at least US$40 million from the market to enhance its investment portfolio in the medium term.
ZAFFICO head of commercial Irene Chipili said in an interview recently that the money is expected to be raised once the rights offer the company has embarked on succeeds.
A rights offer is a way for a company to raise additional capital by offering new shares to existing shareholders, usually at a discounted rate compared to the market value.
“Last year, we announced our intention as a corporation to undertake a rights issue, which is a process that basically allows us to relook at the shareholding structure for the corporation, but most importantly, the intention behind the rights issue that ZAFFICO is currently undertaking is to be able to raise capital to support our investments,” she said.
Ms Chipili said the question for additional resources is to allow the company to raise money to support its expansion drive, particularly investments into the value-addition projects…https://enews.daily-mail.co.zm/welcome/home
