Shares of Bharti Airtel which trades as Celtel Zambia Plc on the Lusaka Stock Exchange will resume trading this week, ending a 17-month suspension after the telecoms firm failed to have itself delisted.
LuSE said in a statement that trading in Celtel would resume on Wednesday, having been suspended in February 2011 when Bharti lodged an application to delist the company.
Bharti applied for the delisting following a mandatory offer to buy out minority shareholders that raised its shareholding to almost 97 percent.
Some remaining minority shareholders sued both Bharti and Celtel, saying they did not want to sell their stake in the company because they were unhappy with the terms and price.
The bourse also said Bharti had withdrawn plans for the compulsory acquisition of minority shares.
Bharti Airtel had previously said it planned to delist the Zambian unit even after the local bourse rejected the initial proposal.
its about time. The case took too long…….
Honestly what is the point of listing a company on the stock exchange if less than a third of shares are traded? Zambia sugar, chilanga cement(Lafarge), Zambian breweries etc. All these are luse jokes!
Details of the share price the majority shareholders paid not yet disclosed to minority shareholders. We need more information. How will trading be efficient if only 3% of shareholdering will be available on LUSE
Is it worth it investing in shares? Do thez companies listed on LUSE pay dividents annually and at wat percentage imwe bantu? i need to know coz therz no broker here in Ndola………
Improve your network please
What a shame! Securities & Exch Commsn has bn a disappointmnt- they hav failed to provide direction and guidance on implication to minorty. SEC shld note that most uf minrty share holdrs had little undrstndg of what buyng shares meant. I investd my little gratuity I got bt it wx a disappntmnt.
ATTENTION: THE COMPANY SECRETARY.
IAM A SHARE HOLDER IN THE CELTEL ZAMBIA LTD PLC. I HAVE RECEIVED THE NOTICE TO ATTEND THE ANNUAL GENERAL MEETING IN LUSAKA BUT DUE TO OTHER COMMITMENTS TO NATIONAL DUTIES I SEND MY APOLOGIES. HOW EVER I SUPORT THE ITEMS ON THE AGENDA. HOW EVER I WILL BE LOOKING FORWARD TO HEAR FROM YOU SOON.
YOURS SHARE HOLDER,
BENARD CHIYESU KAYENDA.
ZAMBIA POLICE KITWE.