The Lusaka Stock Exchange announced this Tuesday, December 9, the results of Dot Com Zambia Plc’s IPO, ahead of its listing on the exchange’s alternative market (LuSE Alt-M). The outcome of the offering exceeded all expectations.

The subscription period officially closed on Friday, December 5, 2025—one week earlier than planned. This early closure was driven by exceptionally strong demand: the offer was oversubscribed 114 times. While Dot Com Zambia initially sought to raise ZMW 12.3 million, total applications reached ZMW 14.1 million, reflecting significant enthusiasm from both local and foreign investors.

The offering was also marked by strong participation from retail investors, who account for 85% of the new shareholder base. More than 500 new investors joined the company, with Zambians representing 75% of shareholders after the IPO. Foreign investors contributed the remaining 25% of funds. This level of engagement underscores the growing confidence in well-structured Zambian SMEs and the tangible interest in innovative companies supported by solid governance and strong growth prospects.

For the Lusaka Securities Exchange, this achievement carries particular symbolic weight, as it represents the very first listing on the Alt-M segment—an alternative platform created to give Zambian SMEs tailored access to capital markets. This success reinforces the strategic role of the exchange as a financing tool for emerging and expanding businesses. The high level of demand enhances the credibility of the market, encourages other potential issuers to consider listing, and contributes to the deepening of Zambia’s capital-markets ecosystem. The LuSE also emphasized that this operation demonstrates the market’s ability to channel local savings into productive investment, a key driver of national economic growth.

Post-subscription reconciliation processes are currently underway, involving the Broker, the Transfer Secretary, the Custodian Bank, and the Lusaka Clearing and Settlement Agency. Once these steps are completed, the official listing of Dot Com Zambia is scheduled for Wednesday, December 17, 2025, when the company will formally join the ranks of listed firms under the ticker DCZ.