The first week of August 2020 bond trading opened the month of August with a bang, as the equities market took over the bond market. Recording a staggering score of 92%to 8% on the bond market , I must say this is the best we’ve seen by far this year. There was no much trading on the bond market during the week as only one day recorded trading. We usually see such magnificent scores towards the end of the month but with the month of August starting on a high note we have hope for the rest of the month.
Equity Market Update
In the week ended 7th August 2020, a total of 282,210,300 shares were transacted in 30 trades, yielding a market turnover of K36,792,019. Trading activity was recorded in AIRTEL, LAFARGE, ZANACO, ZAMBIA SUGAR and CEC AFRICA on the quoted tier. The Index (LASI) closed at 3,865.40 points. The market closed on a capitalization of K55,645,209,233 including Shoprite Holdings and K21,406,003,253 excluding Shoprite Holdings.
Bond Market Update
During the week, bonds of total face value of K5,180,000 were transacted in 3 trades, yielding a market value sales of K3,199,000.
Important announcements
CAVMONT CAPITAL HOLDINGS ZAMBIA PLC
Pursuant to the cautionary announcement by CCHZ published on SENS dated 8 July 2020, shareholders are hereby advised that CCHZ has signed a Share Purchase Agreement with Access Bank (Zambia) Limited (“Access Bank Zambia”), a subsidiary of Nigeria based Access Bank Plc, regarding a proposed merger of Access Bank Zambia and Cavmont Bank as at the effective date, subject to the terms and conditions as set out herein (“the transaction”).
CAVMONT CAPITAL HOLDINGS ZAMBIA PLC
Further to the cautionary announcement released on the Stock Exchange News Service (“SENS”) of the LUSE on 8 July 2020, and the transaction announcement released on SENS on 6 August 2020, shareholders of CCHZ are informed that CCHZ has received a non-binding expression of interest from Capricorn Group Limited (“CGP”), the majority shareholder of CCHZ, in terms of which CGP intends to make an offer to acquire all of the outstanding ordinary shares in CCHZ not currently held by CGP (“Offer Shares”), subject to the Delisting Resolution as set out in paragraph 2 below. (“Intended Conditional Offer”).
This operational update, inclusive of voluntary earnings per share (EPS) and headline earnings per share (HEPS) guidance, is more comprehensive than usual for the purpose of providing shareholders and investors with an understanding of how the Group has traded during the COVID-19 pande