Mozambique Energy: Cahora Bassa Hydroelectric on stock exchange yet this quarter

Hidroeléctrica de Cahora Bassa (HCB), the EDM-owned company which owns the giant hydropower plant in Tete province on the Zambezi river, will list on Mozambique’s stock exchange, the BVM, by the end of Q1 2019, BVM head Salim Vala said yesterday quoted by State-run newspaper Noticias. It wants to sell 7.5% of its shares to Mozambican investors.

The planned listing was announced in November 2017 and was supposed to happen by May last year. The funds raised – which could be as much as $60 million – will be reinvested in the power plant, and may be accounted for as repaying part of EDM’s debt to the company.source:

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: