[2008-04-24]  NMC eyes LuSE listing
NATIONAL Milling Corporation (NMC) is considering listing part of its shares on the Lusaka Stock Exchange (LuSE) this year.

Managing director Peter Cottan said the company was currently in talks with the Lusaka Stock Exchange (LuSE) on the possibility of listing shares on the stock market.

“Yes we are considering to list part of the shares on LuSE, we have been requested to do that but we have not made any decisions on that, we may list and we may not list,’’ he said.

Mr Cottan was speaking in an interview in Lusaka
yesterday.

He said the company held a meeting on Saturday last week to discuss the possibility of floating shares on LuSE.

He however could not give details of the outcome of the meeting saying negotiations were still in the early stages.

He also said that the expansion of the company was largely dependent on the company going public.

And Mr Cottan expressed concern over the escalating prices of maize and other raw materials, which had resulted in increased mealie meal prices.

Mr Cottan said it was not easy for the company to make good earnings due to the increase in maize prices, which in turn were passed on to consumers.

The company expected to reduce mealie meal prices once the new crop was harvested around June as long as the yield was good.

The company intends to procure 120,000 metric tonnes of maize from small-scale farmers across the country this year.


Source: © 2005 Zambia Daily Mail.