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Case study

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ico-agriculture.pngZambeef Products PLC

Location: Zambia

Deal Type: AIM IPO together with a rights issue via the Lusaka Stock Exchange (“LuSE”) for Zambeef Products plc (“Zambeef” or the “Company”), coterminous with the completion of a significant acquisition

Deal Size: Total fundraise of US$55 million resulting in a market capitalisation of US$152.8 million on admission to AIM

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In early 2011, Strand Hanson was engaged by Zambeef, a leading central African vertically integrated agribusiness with operations in Zambia, Nigeria and Ghana, to advise on a tripartite transaction which would result in the Company becoming the first Zambian company to have its securities admitted to trading on AIM, as well as satisfy local corporate governance requirements by making a pre-emptive offer to investors via the LuSE (to which its securities were admitted to trading in 2003) and complete a transformative land acquisition providing the business with an internal supply of soya and other cereal crops.

Strand Hanson acted as nominated and financial adviser to Zambeef and worked alongside Renaissance Capital and Pangea Renaissance, the company’s broker and book runner in London and Lusaka, to co-ordinate an unprecedented transaction and achieve the first AIM-LuSE dual listing, overcoming the challenges of overlaying differing regulatory requirements and market practices and significantly raising the profile of the London market in one of Africa’s most politically stable and rapidly growing economies.