Zambia Forestry and Forest Industries Corporation has issued an initial public offering  of which 160,000,000 ordinary Shares, are going at a price of ZMW 2.06 per share.
In a statement obtained by Money FM News, the initial Public Offering opened as off 11th December 2019 and is expected to close on the 21st of January 2020 with the listing date of the 7th of February 2020.
“This   is an offering of up    to 40% of the shareholding of ZAFFICO, totaling to 160,000,000 ordinary Shares of the share capital in ZAFFICO to the public, employees of ZAFFICO      and selected institutional investors.” The statement said.     
According to the prospectus ZAFFICO revenue has grown from K195 million in 2016 to K244 million in 2018.
“The Securities Exchange Commission     and the Lusaka  Securities Exchange have granted the Company the Listing        in the Forestry sector  under the abbreviated name “ZAFFICO”, share code “ZFCO” and ISIN:  ZM0000000524 following the Listing, all the issued ordinary    shares are expected to be listed on the LuSE.” The statement said.
In the same period profits have grown from K79 million in 2016 to K119 million in 2018.
The Statement added that the listing is only open to Zambia citizens.