Zambeef rises at record levels after Commonwealth Development Corporation buys 17 per cent stake

Irishman Francis Grogan is at helm of African beef business

4th August, 2016

Zambeef Products, the Zambian agricultural company, rose sharply in London after announcing a €58 million investment by Britain’s Commonwealth Development Corporation.

The company’s stock jumped 39 per cent on the Alternative Investment Market to 11.125 pence, having climbed as much as 58 per cent earlier in the day, giving it a market value of £27.6 million.

The Commonwealth Development Corporation will invest $65 million in Zambeef, including €8.5 million in stock and almost €50...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Jack Dorsey is leaving Twitter but what comes next?

The Big Interview: Brian Stafford, chief executive of Diligent Corporation

Elaine Byrne: Ethics watchdog is a bystander when it comes to misbehaviour

Editorial: Voters reluctant to fork out for full cost of a united Ireland