By BUUMBA CHIMBULUZAMBIA’S 11th bond auction was oversubscribed by 271.8 percent with investors placing bids worth K4. 07 billion.After experiencing the first under subscription in three months, the 11th bond auction was oversubscribed in a show of investor confidence ahead of Article IV mission announcement by the International Monetary Fund (IMF) mission team.Against a borrowing need of K1.50 billion, investors placed bids worth K4.07 billion at cost during auction number 11/ 2021.This is compared to the previous K1.32 billion, an increase of 206.6 percent, according to Zanaco Bank Plc monthly newsletter prepared by the research team.“As a consequence of improved investor participation, auction number 11/ 2021 was oversubscribed with a subscription rate of 271.8 percent compared to an under subscription of 88.6 percent achieved in October,” the report stated.The bank attributed the rebound in demand for securities to a number of perspectives that could have caused.According to the bank, first, and for offshore investors, the […]
Investors bid over K4.07bn in bond auction
