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...

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