Support for Copperbelt in $62.3m rights issue, second biggest in Zambia
Copperbelt Energy Corp, a Zambian electricity company, raised ZK387.5m ($62.3m) in the second largest equity issue ever completed in the African country.
The rights issue, which was led by Standard Bank through its Stanbic Bank Zambia subsidiary, offered investors five new shares for every eight held. In total, shareholders representing 96% of the capital participated.
The deal sold 625m new shares at ZK0.62 each.Existing shareholders Zambian Energy Corporation, ZCCM Investment ...