Rudevit Holdings plc has intensified its efforts to raise K10 billion start-up capital, with over 400 members currently investing in the venture, an official has said.
The firm, which is looking for 500 000 investors to make a once-off contribution to be part of the company, seeks to spearhead economic development by exploiting wealth potential of the rural areas through various investments.
In a statement made available to Business News, Rudevit chairperson Hastings Bofomo Nyirenda said despite being affected by the Covid-19 pandemic, the initiative to raise capital is going on well.
He said: “We are extremely excited with the overwhelming response from members that are making inquiries on a daily basis.
“The shares are now only at K1, which means most people want to access the shares while they are that cheap.”
Nyirenda said the first capital call is scheduled for the end of this month, but said the window may be extended to accommodate more investors.
“Within the first weeks of January, we have raised around K40 million from individuals who are buying shares from the minimum of K20 000 to K4 million,” he said.
One of the investors based in the United Kingdom, Kelvin Longwe, is quoted as having expressed satisfaction with the company set up to develop the country.
“I have made my investment in the company because I believe it is the best way of getting my investment back home in a company though new, but has the potential to develop my country unlike any other investments that are on the market,” he said.