Two more CPCs for NSX

Two capital pool companies (CPC) listed on the Development Board (DevX) of the Namibian Stock Exchange (NSX) on Friday: Mcube Investments One Ltd and Omajowa Properties Ltd. In its pre-listing statement, Mcube describes itself as a “holding company formed to undertake at least one reverse takeover in Namibia”. Omajowa was formed to invest in income generating assets in the real estate sector, the company said in a media statement. “To achieve this goal, Omajowa will focus on utilising equity, but may also utilise debt finance, or a combination of both including quasi-equity,” it said. The chief executive officer of the NSX, Tiaan Bazuin, said the stock exchange was glad to see more CPC listings. “This product is ever-evolving, and we hope to see more such endeavours to allocate our capital in the local market usefully,” Bazuin said. A CPC is a company which lists and begins trading without an operating business. Nimbus Infrastructure Ltd in 2017 was the first CPC to list on the NSX. The company has since changed its name to Paratus Namibia Holdings Ltd and has moved from the DevX to the Local Index of the NSX. Alpha Namibia Industries Renewable Power Ltd (Anirep) in 2019 became the second CPC to list on the NSX and remains on the DevX. Photo Jeanette Diergaardt