SABMiller Looking To Zambia For Growth With US$70mn Rights Issue

Zambia has been growing strongly for SABMiller in recent years. According to the company, consumption was up by about 15% in 2010 and has continued to do well so far in 2011, which is consistent with the positive consumer view we have had on Zambia for some time. SABMiller's local subsidiary, Zambian Breweries Ltd, dominates the commercial beer sector and is aiming to raise around US$70mn via a rights issue, with the proceeds expected to be pumped back into the business, boosting capacity as demand continues to soar.

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