Govt to retain 60% shares in ZAFFICO after listing on LuSE

Government says it has scheduled to float the Zambia Forestry and Forest Industries Corporation (ZAFFICO ) shares on the Lusaka Stock Exchange (LuSE) for the end of 2019.

Minister of Finance Margaret Mwanakatwe says this is once all regulatory approvals are secured by the Industrial Development Corporation (IDC).

She has told Parliament during Thursday’s Questions for Oral Answer that government will retain a minimum of 60 percent shares while a maximum of 40 percent shares will be floated to the Zambian public.

Mrs. Mwanakatwe notes that from the 60 percent shares government will possess, 5 percent will be floated to employees of ZAFFICO.