Zambia: Klapton Re lists on the Lusaka Securities Exchange through a $49.5 million direct listing

The transaction involves 2.82 billion shares offered at ZMW 0.35 per share, for a total value of approximately ZMW 987.7 million (around $49.5 million). At this level, the company’s market capitalization stands at about ZMW 3.95 billion, with a free float of up to 25% of the share capital, in line with market requirements. Founded in 2020, Klapton Re has quickly established itself as a key player in Zambia’s reinsurance sector. The company now operates internationally, with a presence in more than 120 countries, focusing primarily on non-life reinsurance. It notably holds a dominant position in its domestic market, with an estimated 86% market share. From a financial standpoint, according to the prospectus, growth has been strong: as of November 2025, the group reported insurance revenues of ZMW 2.7 billion and a net profit of ZMW 325 million, with total assets of ZMW 3.5 billion, reflecting rapid scaling since inception. Proceeds from the listing are expected to strengthen the capital base and solvency, while supporting international expansion, particularly in the United States and China. The group also plans to invest in risk analytics capabilities and in developing insurance solutions linked to climate-related risks. This new listing reinforces a still recent momentum on the Lusaka Securities Exchange, which had already welcomed the high-profile listing of Dot Com Zambia in December 2025 on its alternative segment. That transaction, oversubscribed 114 times, highlighted renewed investor appetite for the Zambian market amid ongoing efforts to modernize the financial ecosystem. The arrival of Klapton Re, a sizable and internationally oriented company, marks another step in broadening the exchange’s listings and could help improve market depth and liquidity, which remain relatively limited. It also comes at a time when African exchanges are seeking to revive IPO activity by attracting more diversified and globally oriented issuers

Zambia: Klapton Re lists on the Lusaka Securities Exchange through a $49.5 million direct listing

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