Last Updated: 14 August 2019
In the presentation of the results of the Public Offer for Subscription of 36.7 million new shares of Cervejas de Moçambique. As a result of the 30.19% increase in its share capital, in what constituted the largest financing operation carried out through the Stock Exchange Mozambique - 7793 million MT - which took place on 7 August, the BVM President announced that the demand of CDM shareholders reached 45,771,294 shares for an offer of 36,762,972 shares, representing a demand-supply ratio. 124.5%, thus exceeding all expectations.
Speaking at the time, Salim Cripton Valá, PCA of the Mozambique Stock Exchange, said that for a long time, CDM was the company with the largest number of shareholders (2118 shareholders), and to date is the company with the most Special Sessions. Bolsa (2001, 2003, 2012 and 2019): “For the strategic choice to use the capital market insistently and with renewed confidence, I have to commend and praise CDM for expressing in concrete acts the importance of BVM in the financial system and in national economy, ”said Salim Valá.
Of the 2,118 CDM shareholders registered with the BVM Securities Central, the 251 participating shareholders, representing 11.85% of Cervejas de Moçambique, SA's shareholding structure, were sufficient to guarantee their full subscription.
Salim Valá emphasized that, with the holding of the Special Stock Exchange Session, BVM will be listing 36.7 million new CDM shares, increasing BVM's market capitalization by an additional 7,793 million MT to 102,249 million MT (USD 1,654 million). , and growth of 8.25%), and the market capitalization ratio goes from the current 9.25% of GDP to 10.0% of GDP.
The President of the BVM appealed to the business sector to follow the example of Cervejas de Moçambique by listing on the stock exchange and taking advantage of BVM's capital market products and services.
On the occasion, the Director General of Beers of Mozambique (CDM), Pedro Cruz, announced that the proceeds of 7,993 million meticais, as a result of the Public Offering of Shares through the Stock Exchange, will be applied to the construction of the company. new factory in Marracuene district, Maputo Province. It is an infrastructure that is already being implemented, currently employing around 1,000 people and is expected to generate 250 jobs in the operational phase.
It should be noted that this is the second time that CDM has resorted to financing through a Public Subscription Offering, the first of which was in 2012. The subscription period for this OPS was from July 22 to August 5, and was exclusively reserved for its shareholders. Shareholders' adhesion to this Public Offering for the Stock Exchange surpassed the offer of 36,762,972 shares, and BVM registered a total demand of 45,771,294 new shares, at a price of MT 212.00 per share, remaining satisfy 9,008,222 actions.
In turn, Standard Bank Chief Executive Officer Chuma Nwokocha said the operation was the largest public offering for subscription in Mozambique. Demand reached 124.5%, which shows the willingness of shareholders to invest in stock instruments.
For Standard Bank, it was an honor to be the bank selected to structure and lead this public offering of CDM shares, and was another opportunity to put Standard Bank's knowledge and experience at the service of the Mozambican economy.
“This is a clear signal to us that the workshop recently held by Standard Bank to promote the Stock Exchange as an alternative source of financing and income diversification for both individuals and businesses has had an effect.” , maintained the head of Standard Bank.Event Photos