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SPIRITS maker African Distillers's right offer to raise US$5 million was subscribed by 67,83 percent with 10,4 million shares subscribed against the targeted 15,4 million. The money for the rights offer is earmarked for the procurement of a new ready-to-drink plant that has the capacity to produce 27,000 bottles an hour. The plant, which will make 20 million litres of ciders annually, will be commissioned in July 2014 . The funds will also be channelled towards upgrading of the existing manufacturing plant at the company's premises in Stapleford, Harare . According to a notice to shareholders on Wednesday, Afdis said the rights offer shares will be issued and listed on the Zimbabwe Stock Exchange with effect from January 20 . "The rights offer closed on 10 January 2014 and the results were, number of rights offer shares -15,451 174, Ordinary Rights Offer shares subscribed -10 480 161, unsubscribed rights offer shares to be issued to the underwriter - 4 971 013, percentage subscription -67,83 percent and percentage of rights offer shares to be issued to the underwriter 32,17 percent," said Lydiah Mutamuko the Company's Secretary. African Distillers Limited (Afdis), is said to have begun talks that could possibly result in beverages firm, Delta Corporation , increasing its shareholding in the company. There has been no official comment from Delta concerning the proposed purchase of additional Afdis shares. Still there is increasing speculation that the country's largest manufacturer, distributor and marketer of alcoholic and non-alcoholic beverages is planning to consolidate its grip on the market by creating a strong family of brands to deal with foreign exports. Afdis operates a distiller in Mutare which produces international brands under licence. Market watchers said they expected the beverages group to inject a significant amount of cash into Afdis to give it control of the asset. "There is a possibility that Delta could increase its shareholding to as much as 50 percent in Afdis," a source who has closely followed the developments said this week. Afdis, whose major shareholders include Delta Corporation and insurance giant Old Mutual , has been seeking new funding, earmarked for maximising production efficiencies as well as entrenching its market position. The company said in an announcement that it was finalising funding options with key shareholders over its expansion drive. Delta currently controls about 30 percent of Afdis. " African Distillers Limited advises its shareholders that the company is engaged in negotiations which if concluded successfully will have a significant impact on its operations and share price. "Shareholders are accordingly advised to exercise caution when dealing in the company's securities until a further announcement is made," said a cautionary statement issued by the company last year. Afdis has however, reported a surge in capacity utilisation at its plant, bucking an industry-wide trend that has seen capacity utilisation declining due to liquidity constraints and antiquated machinery. The beverages business is one of the few that has remained robust in Zimbabwe despite the liquidity crisis that has affected operations in other industries. Delta boosted capacity utilisation to 100 percent and enjoys a near-monopoly on the domestic beverages market.