Make ~€240
with one trade.
Buy 99 shares in Paris. The company buys them back ~55% higher. Cash in your account by early January.
Ad · referral linkThe idea
Same company. Two prices.
ZCCM-IH trades in Lusaka and in Paris, but the Paris shares are much cheaper. The buyout pays the Lusaka price to everyone, including Paris holders. That gap is your profit.
The reason
Why is ZCCM doing this?
To get rid of thousands of tiny shareholders and simplify the company.
Too many tiny holders
Thousands of people own a handful of shares across Lusaka, London and Paris. Each one costs money: registry fees, mailings, meetings, dividends.
Buy them all out
Everyone with fewer than 100 shares gets the Lusaka price +5%. A small cost for ZCCM, a nice premium for you.
A simpler company
Fewer shareholders, lower admin costs. Part of a "listing optimization" ZCCM announced in July 2026.
"…reduce the administrative burden and costs associated with maintaining a large shareholder base, while providing eligible Shareholders with an opportunity to dispose of their shares at a premium."ZCCM-IH odd-lot offer circular, 30 Oct 2026
How to do it
3 steps. Then wait.
About 10 minutes of work in total.
Open an IBKR account
Free to open, approval takes 1–3 days. Turn on stock trading for France / Europe.
Buy 99 shares of MLZAM
Limit order around €4.40–4.50, good-till-cancelled. Never 100 or more: that takes you out of the offer.
Do nothing. Get paid.
You're in the offer automatically, no form needed. Cash lands in your IBKR account ~23 Dec – 4 Jan.
Timeline
Don't miss the window
Risks
What could go wrong?
You put in €436. Here's where you end up in each case.
Offer goes through
The state owns 92.5% of the votes and proposed it. It needs 75%.
Goes through, pays less
Lusaka price drops ~10% before 8 Dec, or the kwacha weakens ~2 per euro.
Vote fails
No buyout. You keep the shares, which could drop ~20% (my estimate).
FAQ
Questions
Where's the catch?
The vote has to pass and the currency can move. The gap exists because the offer is capped at 99 shares, too small for funds to bother with.
Can I do this from Turkey?
Yes. Turkey isn't on the offer's restricted list, and Turkish residents can open an IBKR account.
Can friends and family do it too?
Yes. Each person with their own account can buy up to 99 shares and gets paid separately.
Do I need to fill in a form?
No. Holders who don't respond are automatically accepted. Just watch your IBKR notifications in case they ask anything.
What does it cost?
Opening IBKR is free. Buying 99 shares costs a few euros in commission, plus currency conversion if you fund in another currency. The profit figures already include ~€6 of fees.
What if I buy too late?
You must own the shares by the 18 Dec record date. Paris settles two days after you buy, so 16 Dec is the last safe day. Go early: it trades in auctions and can take a day to fill.
Where are the full details and a calculator?
On the full ZCCM page, with sources. New to this? Read odd-lot offers 101.
Know someone who'd want this?
Everyone with their own account can do it. Share it with friends and family.