Huaxin increases Chilanga stake

Huaxin Ltd has increased its shareholding in Zambia-based Chilanga Cement from 75 to 81.19 per cent following the purchase of 50,013,468 shares, according to the Times of Zambia.

The company submitted a cash offer to the board of directors of Chilanga Cement to purchase from the minority shareholders, all the remaining 50,013,468 shares that did not own representation of 25 per cent shareholding.