Business / Companies
Caps on the on the brink of collapse
04 Jun 2013 at 13:55hrs | Views
FORMER Zimbabwe Stock Exchange listed drug maker Caps Holdings is on the on the brink of collapse after the High Court sheriff ordered the sale some of its assets to pay off money owed to CBZ Bank. Assets to go under hammer on June 14 this year include its giant property in Southerton industrial area in Harare.
The property is comprised of a drug manufacturing factory, a three story administration block with 47 offices, kitchen, bar with dispensary sections, packaging section, cold rooms, receiving bays and a clinic.
Caps used to be the country's largest drug manufacturing company before it plunged into financial crisis. The company had its final trade on the domestic bourse on November 30, 2011. It said then the delisting would pave way for a restructuring exercise that would see new investors coming in to inject fresh capital.
The pharmaceutical concern ended a 42-year presence on the bourse, trading at US0,10c per share and valued at US$3,5 million.
The property is comprised of a drug manufacturing factory, a three story administration block with 47 offices, kitchen, bar with dispensary sections, packaging section, cold rooms, receiving bays and a clinic.
Caps used to be the country's largest drug manufacturing company before it plunged into financial crisis. The company had its final trade on the domestic bourse on November 30, 2011. It said then the delisting would pave way for a restructuring exercise that would see new investors coming in to inject fresh capital.
The pharmaceutical concern ended a 42-year presence on the bourse, trading at US0,10c per share and valued at US$3,5 million.
Source - newswires
