ZB PLANS AHEAD FOR INCREASED PRODUCTION

The Zambian Breweries group has successfully completed its Rights Offer aimed at raising 70 million dollars from the capital market.
The company had issued the rights offer in order to raise capital for operations expansion as well as to restore production equipment lifespan.

The group’s Corporate Affairs Director, Chibamba Kanyama has cited refurbishment and expanded production of beer at the Ndola brewery facility as reasons for the decision.

Mr Kanyama has further said that the total capital required for the project is 90 million dollars, with an additional 20 million dollars to be raised internally.

Through the rights offer, the company’s existing shareholders bought a proportional number of additional securities as 182 million shares were all fully subscribed.