Built on solid ground. Now open to you.
Thirty-one studios. Shares from ZMW 2,552. Offer closes 16 November 2026.
Thirty-one studios, paid for in stages.
How the 31 studios were paid for
Five studios, paid for by the founders
The founders built the first five studios with their own money.
Let them, then sell 49%
Once the five were let, 49% of each studio was sold to co-investors. The founders kept 51%.
Reinvest, and repeat to 20
The sale money paid for the next five, and the cycle ran until 20 studios stood.
The rest, paid for from rent
The founders' 51% share of the rent then paid for studios 21 to 31. No new sale.
The same model, one level up
Before listing, all 31 studios sit in one company, OSK, which the founders own outright. The offer sells 49% of OSK to the public. The proceeds go to the founders, who plan to reinvest them, through their development partnership K&M, in two new buildings that are intended to be offered to OSK later.
Schematic, not a floor plan. Studios are numbered in the order they were funded.
Where the listing stands
- SEC approves the Prospectus23 Sep 2026Done
- LuSE approves the Prospectus21 Oct 2026Done
- Offer opens26 Oct 2026, 08:00Next
- Offer closes; final date for payment16 Nov 2026, 17:00Next
All times are Lusaka time. Dates may change with the approval of the LuSE and the SEC; any change is announced on SENS and in the press. Full timetable
A working building, not a plan.
The property
- Address
- No 56 Kapeshi Road, Kalingalinga, Lusaka
- Plot
- B4/85/01
- Title
- Registered in the Company's own name
- Valued by
- Pam Golding Properties (Zambia)
The homes
- Homes
- 31 furnished studio apartments
- For
- Young professionals, early-career workers and students
- Occupancy
- Fully let
- Shared
- Security checkpoint, CCTV, borehole, laundry and parking for 8 cars
- Nearby
- East Park Mall 1 km; 12 colleges and universities within 3 km; the CBD 10 km
The finances
- Record
- Five audited years, 2021 to 2025
- Management fee
- None charged by the founders' company, K&M, for at least three years
Read both columns before you decide.
Every figure here comes from the Prospectus. The column on the right is as important as the one on the left.
What you could gain
- A share of a building that already earns rentOSK owns a fully let building with five audited years of rental income.
- A share of the profits, if the Board declares themThe Board intends to pay out about 40% of distributable profits until any REIT conversion, and at least 80% after. Dividends are not guaranteed.
- Growth, if the plan worksThe Directors plan to grow from one building to eight by the end of 2030.
- Shares you can sell on the LuSEAfter listing you can sell through a broker, when there is a buyer.
What it could cost you
- The offer money goes to the selling shareholdersThis is a sale of existing shares. The founders plan to use the money to develop further buildings that are intended to be offered to OSK later. OSK itself receives none of it.
- You may struggle to sellAlt-M shares trade less often than Main Board shares. You may not get your price, or your timing.
- One building carries all the income todayDamage, a utility failure or a change in the area would hit revenue directly.
- Your percentage will shrinkNew shares are planned from 2027. Unless you buy your share of them, you will own a smaller part of the company.
- You pay more than the book valueZMW 12.76 a share is about 1.6 times the net asset value per share of ZMW 7.84 at 31 December 2025.
From first-timer to shareholder
Applications and payment must reach the Receiving Agent by Monday 16 November 2026, 17:00.
-
Open a CSD account
Your shares are held in an account at the LuSE Central Securities Depository. Any licensed LuSE broker can open one with your NRC or passport.
You can do this now -
Read the Prospectus
It is the only document to rely on. Read the risks as closely as the offer.
-
Apply and pay
Complete the application form and pay in Kwacha through the Receiving Agent or a licensed broker, before the offer closes.
-
Check your allocation
Results are published on SENS. If demand is higher than the shares on offer you may get fewer, and the difference is refunded without interest.
-
Hold, or sell
Shares are credited to your CSD account before trading starts. Then you can hold them or sell through a broker.
Ready when you are.
Payment must reach the Receiving Agent before the offer closes. Late applications cannot be accepted.
