admininvestors at US$0,10 per share.
The placement, which is expected to raise US$30 million, opened on November 26 and will close on December 28 this year, managing director Mr George Manyere said.
“The offer is expected to raise at least US$30 million which will be invested in the company’s current portfolio and previously identified new investments,” he said.
Mr Manyere said in order to provide new and existing shareholders with a liquid platform, Brainworks Capital was evaluating listing on either the London or Frankfurt stock exchanges, but this was subject to regulatory approvals in Zimbabwe and offshore.
Brainworks is majority owned by Zimbabwean indigenous shareholders, through a private placement of shares undertaken in 2011 which targeted and successfully attracted local pension funds.
The African Development Corporation is Brainworks’ aligned strategic partner and international shareholder, holding 28,23 percent of the shares in issue.
Brainworks is fast becoming a leading investment firm, as it continues to attract local and international investors seeking a local partner and exposure to the unique, flourishing local market.
The firm is active in proprietary investments, private equity fund management and advisory services.
The investment arm of the company focuses on four main growth sectors in the Zimbabwean economy — financial services, mining, energy and agriculture.
It holds 29,4 percent shareholding in Ecobank Zimbabwe and 29,4 percent in Ecobank Asset Management.
Both are part of the pan-African banking group, Ecobank Transnational Incorporated. Brainworks also holds 40 percent shareholding in GetBucks Zimbabwe, a member of GetBucks Limited, a Mauritius- registered lender. In addition, Brainworks holds 100 percent shareholding in BCM Gold, an exploration and mining company, and in FML Oil Zimbabwe, a petroleum storage and distribution firm.
Mr Manyere said Brainworks was in the final stages of completing transaction agreements that will see it investing in a petroleum products storage facility in Zimbabwe in partnership with Puma Energy International, a global energy company that is present in over 30 countries.
Brainworks Capital advisory arm has also experienced strong growth during the year, with notable transactions being financial advisory services to ADC in the US$50 million underwriting of ABC Holdings Limited rights offer.
Online Reporter