Strong demand from shareholders for capital increase at Mozambican beermaker CdM

30 January 2012

Maputo, Mozambique, 30 Jan – The participation of shareholders of beermaker Cervejas de Moçambique (CdM) in the company’s capital increase has seen demand outstrip supply by over 100 percent, according to Mozambican daily newspaper, Notícias.

On 13 October, 2011, CdM shareholders approved the issue of 9.68 million new shares at a unit price of 113.62 meticals, representing 8.637 percent of the company’s capital and were exclusively reserved for current shareholders.

Shareholders of CdM thus had the opportunity to take up new shares at the branches of the financial institutions where the shares are registered, in the period from 3 to 18 January, 2012.

As well as shares that they are able to take up due to subscription rights, the shareholders put forward proposals to buy more shares, totalling additional demand of 9.9 million shares.

The CdM share issue was concluded at the company’s Extraordinary General Meeting held Friday, when the company’s capital was altered from 224 million to 243 million meticals.

The new shares of CdM are now listed on the Mozambican Stock Exchange and the total amount of CDM shares floated is 121.7 million. Trading in the new share is due to begin on 31 January. (macauhub)