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ZCCM Investments Holdings Plc (ZCCM-IH) has appointed local and international transaction advisers to advance its Listing Optimisation Process as the State-backed mining investment company seeks to expand its presence in global capital markets.
The appointments follow a cautionary announcement issued by the company on July 10.
In a cautionary statement issued on Wednesday, Company Secretary, Charles Mjumphi, said the ZCCM-IH board had appointed Bowsprit Partners Limited of the United Kingdom as Financial Adviser and Corporate Broker, while Stockbrokers Zambia Limited (SBZ) will serve as the Market Transaction Adviser on the Lusaka Securities Exchange (LuSE).
Mjumphi said Bowsprit Partners, which has previously advised ZCCM-IH, will oversee the international aspects of the listing optimisation process.
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The London-based advisory firm is a member of the London Stock Exchange and is accredited as a listing sponsor for major European markets, including Euronext and the Nasdaq First North Growth Market.
Meanwhile, SBZ will provide advice on the domestic aspects of the transaction and guide the company through the regulatory requirements of the LuSE. The firm is a founding member of the exchange and is licensed by the Securities and Exchange Commission.
The appointments form part of ZCCM-IH’s broader strategy to strengthen its international profile and improve access to global sources of capital.
The company also referred to recent remarks by Chief Executive Officer, Kakenenwa Muyangwa, who said ZCCM-IH aims to increase its market capitalisation from approximately US$1.4 billion to US$7 billion over the next decade.
Muyangwa said the strategy includes increasing copper production, broadening the company’s international shareholder base, improving liquidity in overseas listings and enhancing access to global capital markets to support future growth.
ZCCM-IH said further updates on the listing optimisation process would be provided as the transaction progresses in line with regulatory requirements.
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