Professional Insurance to list on Lusaka Stock Exchange

December 10, 2014


PROFESSIONAL Insurance Corporation Zambia Limited (PICZ) Plc has quoted to list on the Lusaka Stock Exchange (LuSE) to draw more partners’ local and international communities.

This entails that the insurance firm has registered with the Securities and Exchange Commission (SEC) to eventually list on the local bourse to broaden investment choice for investors.
PICZ board chairperson David Fross said the decision to quote and subsequent to list on LuSE is to ensure value addition to the company.

Mr Fross said, “Stakeholders, clients, suppliers, and business associates, among others frequently recognise companies which are quoted or listed on LuSE as being more stable compared to those that are not.

“Although the main reason why most companies decide to list on the stock exchange is to raise capital, ours has been driven by the fact that listing comes with a number of qualitative value addition advantages which, going forward, will take PICZ to another level.”

He said during the occasion to mark the quoting of PICZ on LuSE, Mr Fross said having ‘Plc’after a business name represents permanence, stability, and credibility, and that it conveys dedication of shareholders towards good governance in ensuring success of their businesses in the long-term.

“In this regard the business is likely to draw more customers, partners, and attention from both the local and international communities,” he said.

On August 8, 2014, PICZ was converted into a Plc, and it has started the process of listing on LuSE by ensuring that all its shares are now “quoted” on the SEC.

Mr Fross said being quoted on LuSE enables the corporation to trade on the quoted tiers, especially that there is potential for citizens, employees, foreign and institutional investors to become shareholders of PICZ, thus widening their choice of Zambian investments.

“I am alive to the fact that our Quoted Status on the Lusaka Stock Exchange will raise expectations from many stakeholders vis-à-vis the date for the actual listing. Source: Daily Mail