The offer is now open Closes Monday 16 November 2026 at 17:00, Lusaka time Apply now Updated 26 Oct 2026
One Square K
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How to apply

The offer is now open.

Applications with payment must reach the Receiving Agent by Monday 16 November 2026 at 17:00, Lusaka time. Read the Prospectus before you apply.

Representatives of OSK, Money Acumen and the LuSE ring a bell beside a gold hard hat, in front of a LuSE backdrop, as colleagues applaud.

The offer at a glance

Source: Prospectus, Key Offer Statistics. Read the full terms in the Prospectus.
IssuerOneSquareK Property Development Plc
Type of offerOffer for sale of existing shares by the selling shareholders, Mafipe Chunga and Kupela Clarke
Shares on offer980,000 ordinary shares, 49% of the company
PriceZMW 12.76 per share
Smallest application200 shares (ZMW 2,552)
Then in multiples of100 shares
Total value of the offerZMW 12,504,800
Implied value of the companyZMW 25,520,000
Who receives the moneyThe selling shareholders. They plan to use it, through their development partnership K&M, to develop two further buildings that are intended to be offered to OSK later. OSK itself receives no proceeds.
UnderwrittenNo
Founders' holding after the offer1,020,000 shares (51%)
MarketLusaka Securities Exchange Alternative Market (Alt-M)
Designated Adviser and Receiving AgentMoney Acumen Advisory Limited
Transfer AgentCorpserve Transfer Agents

Price in context. The net asset value per share was ZMW 7.84 at 31 December 2025, so the offer price is about 1.6 times book value. How the price compares

Salient dates

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.
StageDate
SEC approves the ProspectusWednesday 23 September 2026
LuSE approves the ProspectusWednesday 21 October 2026
Offer opens, 08:00Monday 26 October 2026
Offer closes; final date for cleared payment, 17:00Monday 16 November 2026
AllotmentMonday 23 November 2026
Results on SENS; allocation notices sentMonday 23 November 2026
Shares credited to CSD accountsMonday 23 November 2026
Admission and first day of tradingWednesday 25 November 2026
Refunds of unused money, without interestWithin 10 business days of allotment

Dates may change with the approval of the LuSE and the SEC; any change is announced on SENS and in the press.

How to apply

  1. Fill in the application form
    Read the Prospectus first, then fill in the online application form.
  2. Open a CSD account with a LuSE broker
    Bring your NRC or passport and proof of address. If you already hold LuSE shares, you have one. You can do this now.
  3. Pay in Kwacha
    By bank transfer, or another method the Receiving Agent approves. Payment must go with the application. Keep your proof of payment.
  4. Submit before the close
    Send your online application and payment to the Receiving Agent, Money Acumen Advisory Limited, or apply through your broker. Late applications cannot be accepted.
  5. Keep your reference
    You will be told your allocation after the results are published. Shares are credited to your CSD account before trading starts.

Groups such as co-operatives, clubs and companies apply in the name of the group, with the documents the Receiving Agent asks for.

Apply online Ask the Receiving Agent

What your money buys

Work out a whole number of shares, what it costs, and what you give up by not putting the money somewhere else.

Start from
ZMW
Type the amount you are thinking of. We round down to a valid number of shares (minimum 200, then multiples of 100).

Illustration only, at the offer price of ZMW 12.76. If the offer is oversubscribed you may receive fewer shares.

Shares
600
Cost at the offer price
ZMW 7,656.00
Left over
ZMW 2,344.00
Your share of the company
0.0300%

Buying and selling later. Brokers and the exchange charge fees; ask your broker.

The same money in a 364-day Treasury bill would earn about ZMW 668 in a year after 20% withholding tax (yield 10.90%, 17 September 2026 auction). Rates change; check the latest before you decide.

If demand is higher than the shares on offer

The Directors decide the basis of allocation with the Designated Adviser and the LuSE. The Prospectus sets out three principles:

  • A broad shareholder base. Priority goes to applications that spread ownership widely and across Zambia.
  • No outsized holdings. Large applications may be scaled down so no single investor holds a stake out of proportion to the public float.
  • Related parties treated under the rules. Applications from people connected to the Company are allocated in line with LuSE Rule 21.12.

The listing needs at least 30 public shareholders holding at least 10% of the shares. If you receive fewer shares than you applied for, the difference is refunded without interest within 10 business days of allotment.

Who can apply

The offer is made in Zambia only. No step has been taken to allow a public offer in any other country.

US persons cannot take part. The shares are not registered under the US Securities Act of 1933 and may not be offered or sold in the United States or to US persons.

Offer documents

  • Prospectus
    The full offer document. Read it before you apply.
    Coming soon
  • Documents available for inspection
    Certificate of incorporation, Articles, financial statements, valuation report, reporting accountant's report, consents and material contracts, at the registered office (Monday to Friday, 09:30 to 16:30 only) and at Money Acumen during business hours until the offer closes.
    In person

Request an application form

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The offer is made in Zambia only and is not available to US persons.

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Before you open the Prospectus

The offer is made in Zambia only. The documents are not for release in the United States or to US persons.
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