The Lusaka Stock Exchange (LuSE) has had a very sluggish first half of the year. The index declined by 5.2% to close at 5,842.08 as at June 30 2015:
Market capitalisation fell by K1.7 billion ($237 m). At least 3 Initial Public Offerings (IPO) were supposed to have occurred with Finance Bank Plc leading the charge but only Ikulileni Investments Plc filed for one which failed to meet its goals (after receiving some bad press). The Industrial Development Corporation (IDC) was looking to offload the Governments 30% stake in Afrox Zambia to the public but nothing has happened to date. The potential acquisition of Finance Bank Plc by Atlas Mara could also shelf any IPO plans.
Zambia Bata Shoe Company (LUSE: BATA) reported a 37% year-on-year increase in net profit to K13 million in financial year (FY) 2014. Earnings per Share (EPS) came in at K0.17 (K0.12 in 2013):
Trying to decipher this puzzle that is Zambia by using a variety of publicly available data (structured and unstructured) in conjunction with my own skill/experience. * * *