EIZ floats shares on LuSE to raise K60 million for HQ

The Engineering Institute of Zambia (EIZ) Properties Plc has off-loaded shares on the Lusaka Stock Exchange approved by Securities and Exchange Commission to raise K60, 000, 000 for the construction of the EIZ Headquarters.

EIZ Properties Plc is a company incorporated by the Engineering Institute of Zambia which is a majority shareholder.

Speaking during a press briefing in Lusaka this morning, EIZ President Bernard Chiwala says the offer for sale is of 30, 000, 000 shares which are going for K2 per share payable in full on application.

Engineer Chiwala says the site of the proposed office park is situated at the Agriculture Show Society of Zambia in Lusaka next to NASDEC and is approximately 6, 156 square meters.

He explains that the key space will accommodate EIZ Head offices, an approximately 600 seater auditorium, rentable office space, exhibition galleries, creche, gym and coffee shop.

Engineer Chiwala says the construction of the EIZ Headquarters commenced in October 2014 with completion set for November 2016 and that the project will cost K47 million based on the designs approved by the EIZ Council.