By 
Real Estate Investments Zambia PLC (REIZ) has raised over US$ 6 million capital through a Rights Issue to meet its 50 percent cash settlement of the Corporate Bond for business consolidation and growth.
The board and management have been in the process of restructuring the US$12,005,930.85 Corporate Bond due on November 2022.
The company announced this on Friday, December 9, 2022, on the Lusaka Securities Exchange (LuSE) in a market update.
Louis Chilufya Pulu, company secretary and finance manager, said REIZ had successfully raised capital through a Rights Issue as stipulated in the Notice of Extraordinary General Meeting (EGM), issued on September 2022.
Pulu indicated that the capital raising had achieved the principal objective of raising the funds to finance the 50 percent cash settlement of the restructured US$ 12 million Corporate Bond.
This was the most timely and efficient way to finance the 50 percent cash settlement of the bond, representing US$6,002,965.42.
“REIZ is encouraged by the strong retail and institutional support and thanks the investing public for their participation in the Rights Offer,” he said.
Pulu said the investing public was advised that the share price in listed securities trading on the stock market may fluctuate and investors may not receive the amount invested in any trade of the shares.
REIZ, listed on Lusaka Securities Exchange, is the leading real estate investment, development and management company in Zambia.
Comments