In the third week of trading on the LuSE we begin to see a pattern as the corporate bond market continues its dominance over the equities market scoring a 100% once again.
Equity Market Update
In the week ended 17th January 2020, a total of 48,273 shares were transacted in 98 trades, yielding a market turnover of K94,064. Trading activity was recorded in AEL ZAMBIA, CEC ZAMBIA, LAFARGE, REI ZAMBIA, ZAMBEEF and ZANACO. The LuSE All Share Index (LASI) closed at 4,257.65 points. The market closed on a capitalization of K56,527,056,210 including Shoprite Holdings and K22,287,850,230 excluding Shoprite Holdings.
With three weeks into trading on the LuSE in January 2020. The LuSE All Share Index (LASI) in the first week of trading closed at 4264.51 points. LASI closed at 4,256.69 points in the second week of trading, in which we see a slight drop and closed at 4,257.65 points in the third week of trading on the LuSE in which we see a 0.96 point gain from the previous weeks close.
Bond Market Update 17th January 2020
During the week, bonds of total face value of K205,692,234 were transacted in 28 trades, yielding a market value sales of K194,561,190.
The third week of Corporate Bond trading recording the highest Market Value Sales of K194,561,190 in comparison to week two of K44,082,000 and week one of K12,783,000.
Important Announcements
NATIONAL BREWERIES CHANGE IN DIRECTORATE
Pursuant to section 3.59 of the LuSE Listing Requirements, the Board of Directors of National Breweries Plc (“the Board”) wishes to announce the resignation of Mr. Ronny Palale as Managing Director of the Company effective 15th January 2020.
ZAMBIA NATIONAL BUILDING SOCIETY
In accordance with the Securities Act No. 41 of 2016, the Board of Directors (“the Board”) of Zambia National Building Society (“ZNBS” or “the Society”) wishes to announce the separation of Mr. Joseph Chikolwa from the Society effective 3rd January 2020. Mr. Chikolwa served as Chief Executive Officer of ZNBS.
PAMODZI HOTELS PLC
In accordance with the Lusaka Securities Exchange (“LuSE”) Listings Requirements, the Board of Directors of Pamodzi Hotels Plc (“the Company”) hereby advises the Shareholders of the Company that the Earnings per Share (EPS) for the interim financials 30 September 2019 are expected to be lower than the EPS for the interim financials ended 30 September 2018 by 59%.
First Quantum Minerals Limited
First Quantum Minerals Ltd. (“First Quantum” or “the Company”) (TSX:FM) has announced that it has successfully completed the pricing of its tap issuance of $500 million aggregate principal amount of 7.25% Senior Notes due 2023 (the “2023 New Notes”) and an additional tap issuance of $250 million aggregate principal amount of 7.50% Senior Notes due 2025 (the “2025 New Notes”, collectively the “Notes”). The original tap offering amount of $300 million has been increased to $750 million. The issue price of the 2023 New Notes is 102.50% representing a yield to maturity of 6.373%. The issue price of the New 2025 Notes is 103.00%, representing a yield to maturity of 6.804%.