ZWD120 billion worth of TeleAccess shares to be sold?

8 Jun 2005

Zimbabwean telco TeleAccess looks set to receive a cash injection of around ZWD120 billion (USD13.3 million), as part of a private placement exercise that is due to close at the end of this month. The operator confirmed that three unnamed institutional investors have already expressed an interest in acquiring shares. Proceeds from the placement will be put towards the long-awaited rollout of TeleAccess’ network.

Zimbabwe, TeleAccess