Print
Email Article
"Financial services group,ZB Holdings will be looking at private investors to recapitalise the business.ZB will seek shareholder approval to embark on ..."
Financial services group,ZB Holdings will be looking at private investors to recapitalise the business.ZB will seek shareholder approval to embark on a private placement at its up coming AGM.
The move comes on the back of plans by the group to diversify its business and revenue streams which are currently financially services aligned.
ZB Holdings becomes the second ZSE listed counter after RioZim to opt for private placements ,moving away from the traditional rights issue.
The decision by the two listed counters has been largely attributed to the shareholder composition of most counters were local shareholders take up over 80% of the shareholding but are currently not in position to finance the recapitalisation of the companies.
Local companies are currently on a drive to reposition their businesses following the dollarisation of the economy.
The move comes on the back of plans by the group to diversify its business and revenue streams which are currently financially services aligned.
ZB Holdings becomes the second ZSE listed counter after RioZim to opt for private placements ,moving away from the traditional rights issue.
The decision by the two listed counters has been largely attributed to the shareholder composition of most counters were local shareholders take up over 80% of the shareholding but are currently not in position to finance the recapitalisation of the companies.
Local companies are currently on a drive to reposition their businesses following the dollarisation of the economy.
