Three weeks into May 2020 trading on the LuSE, week three mirrors week two as the equities market records a 3% and the bond market with 97%.
Equities Market Update
In the week ended 22nd May 2020, a total of 621,696 shares were transacted in 80 trades, yielding a market turnover of K4,372,939. Trading activity was recorded in BATA, CEC ZAMBIA, STANDARD CHARTERED BANK ZAMBIA, ZAMBIAN BREWERIES, ZANACO, ZAMBIA CONSOLIDATED COPPER MINES, ZAMBIA FORESTRY AND FOREST CORPORATION and CEC AFRICA on the quoted tier. The Index (LASI) closed at 4,078.25 points. The market closed on a capitalization of K56,571,643,786 including Shoprite Holdings and K22,332,437,806 excluding Shoprite Holdings.
Bond Market Update 22nd May 2020
During the week, bonds of total face value of K87,963,000 were transacted in 15 trades, yielding a market value sales of K124,250,000.
Week three was the best performing week thus far.
Shareholders of ZCCM Investments Holdings Plc (“ZCCM-IH”) are referred to the announcement dated 23 May 2019, concerning the filing by ZCCM-IH of a petition in the High Court of Zambia for the winding up of Konkola Copper Mines PLC (“KCM”) on 21 May 2019 (the “Petition”), the appointment by the Court of Mr Milingo Lungu as provisional liquidator of KCM (the “Provisional Liquidator”) and the legal proceedings commenced in the High Court of South Africa an applications made to the Zambian High Court by Vedanta Resources Limited and Vedanta Resources Holdings Limited (together “Vedanta”).
Kansanshi Holdings Limited (“KHL”) Commences Confidential Arbitration Proceedings Against ZCCM Investments Holdings Plc (“ZCCM-IH” or “the Company”) and Kansanshi Mining Plc (“KMP”)
At the Annual General Meeting held on 30th April 2020 via Zoom , a Final Dividend of K0.07 per share for the period ended 31st December 2019 was approved by the shareholders of Prima Reinsurance Plc (“Prima Re” or “the Company”).