In a move to attract the local and international communities of their business partners and to provide expanded investment options to their investors, Professional Insurance Corporation Zambia Limited (PICZ) Plc has reported its plans to list on the Lusaka Stock Exchange (LuSE).
According to David Fross, Chairman of the Board for PICZ, the decision to quote and ultimately list on the LuSe will not only demonstrate the stability of the PICZ, but it will also offer a number of value addition advantages to the company.
“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.
Mr. Fross went on to explain that, while the insurance firm must register with the Zambian Securities and Exchange Commission (SEC) in order to list on the bourse, being quoted on the LuSe will allow them to trade on the quoted tiers and also provides an opportunity for interested investors to become shareholders of PICZ.
Established in 1992, PICZ currently boasts 12 branches and 6 mobile offices across the country and is reportedly the largest private sector insurance company in Zambia.