The local market was somewhat active this week, with the NSX Local index up 0.39% at 464, and the NSX Overall Index up 7.77% at 1136. As at 10 November, Namibia Breweries was the largest local company on the exchange, with market capitalization of N$ 6.8 billion, followed Capricorn Group by with N$ 6.7 billion, FirstRand Namibia with N$ 6.2 billion, and Trustco Group with N$ 4.8 billion. Trustco Group lead the market this week with growth of 6.01% to close at N$ 3.00 per share, followed by Namibia Breweries who grew by 2.34% to close at N$ 32.75 per share. In terms of volume Oryx Properties lead the market with N$ 1.2 million worth of shares traded, with Standard Bank Namibia in second place with N$ 778 thousand worth of shares traded. The local currency gained 2.68% against the US Dollar, to close at N$ 15.62 per USD, and gained 1.1% against the British Pound, to close at N$ 20.73 per GBP. It closed at N$ 18.46 against the Euro, a gain of 1.82%.
Capricorn Group and Cavmont Capital Holdings Zambia (CCHZ) has issued a combined circular relating to the disposal of Cavmont Bank Zambia to Access Bank Zambia as announced on 6 August 2020. It covers, inter alia, the voluntary and conditional offer of ZMW 2.00 per share (N$ 1.50 per share) or ZMW 4.5 million overall (N$ 3.3 million) to all non-Capricorn CCHZ shareholders for Capricorn to acquire their shareholding, conditional to the approval of the delisting of CCHZ from the Lusaka Stock Exchange, as well as the disposal of Cavmont Bank as announced. A general meeting will be held on 30 November 2020 for passing the ordinary resolutions as detailed.