ZCCM Investments Plans Share Sale to Reach $7 Billion Goal

ZCCM Investments Holdings Plc, Zambia's majority state-owned mining investor, is considering the sale of stakes in its business to increase liquidity and satisfy local stock exchange requirements. CEO Kakenenwa Muyangwa stated that the company and other shareholders may offload portions of their holdings over the next one to two years to ensure 25% of shares are readily tradeable.

The company holds minority interests ranging from 10% to 49% in major copper mines owned by firms including First Quantum Minerals Ltd. and Vedanta Resources Ltd. As part of a broader 10-year strategy, ZCCM is conducting a listing-optimization exercise to resume trading on the London Stock Exchange, where its shares are currently halted because of delayed financial filings.

Muyangwa intends to attract international capital to grow the company's market capitalization from $1 billion to $7 billion over the next decade. The Government of Zambia remains the majority shareholder, owning 77.5% of the entity.