In the battle of opposites in the fourth week of June trading on the Capital market. We see an almost half score as the bond market recorded a 51% score to 49% on the equities side. In comparison to week four of June 2021, we see the bond market record an 87% score to 13%.
Equity Market
In the week ended 24th June 2022, a total of 14,141,888 shares were transacted in 569 trades, yielding a market turnover of K170,889,251. Trading activity was recorded in AIRTEL, BATA, BRITISH AMERICAN TOBACCO ZAMBIA, COPPERBELT ENERGY CORPORATION, CHILANGA CEMENT, NATIONAL BREWERIES, PUMA, STANDARD CHARTERED ZAMBIA, ZAMBIAN BREWERIES, ZAMBIA METAL FABRICATORS, ZANACO, ZAMBIA SUGAR, ZAMBIA FORESTRY CORPORATION and in CEC AFRICA on the quoted tier. The LuSE All Share Index (LASI) closed at 6,843.79 points. The market closed on a capitalization of K70,721,491,447 including Shoprite Holdings and K35,938,806,007 excluding Shoprite Holdings.
Bond Market
Bonds of total face value of K281,270,000 were transacted in 14 trades, resulting in a market value sales of K178,028,070.
IMPORTANT ANNOUNCEMENTS
CEC AFRICA INVESTMENTS LIMITED
Shareholders are aware that in December 2021 the Bureau of Public Enterprise (“BPE”) who holds
shares in AEDC, purportedly appointed an interim Board of Directors and management team to stabilize
the operations of AEDC that were being affected by the dispute between the shareholders of KANN
Utility Limited (“KANN”).In response to the alleged takeover of the operations of AEDC, KANN had instituted a suit against the
BPE and other parties seeking a court ordered restraint against interference with the operations at
AEDC. Subsequently, the parties agreed to settle the matter out of court and were due to report to the
Court on the negotiated settlement on 16th June 2022. However, at the hearing, counsel for United Bank
for Africa, one of the parties in the suit, requested for more time to negotiate the settlement and the
matter was adjourned to 26th September 2022