OneSquareK Plans Listing on Lusaka Exchange Alternative Market
TLDR
- OneSquareK Property Development plans to list on the Alternative Market of the Lusaka Securities Exchange, focusing on urban residential property.
- The proposed listing reflects a broader push by African exchanges to diversify and attract new issuers, with real estate offering stable rental income for investors.
- Investor interest for income-generating assets like OneSquareK may vary depending on sector, with key factors for investors including valuation, financial transparency, and rental income sustainability.
OneSquareK Property Development plans to list on the Alternative Market of the Lusaka Securities Exchange, according to its adviser Money Acumen Advisory. The listing remains subject to regulatory approvals, with no timeline disclosed, per a report by African Markets.
If completed, the company would become the second listing on the exchange’s alternative market, following Dot Com Zambia, whose IPO was oversubscribed 114 times and closed ahead of schedule.
OneSquareK focuses on urban residential property. Its main asset consists of 31 studio apartments located in a commercial corridor in Lusaka, near universities and about 10 kilometres from the central business district. The company reports full occupancy and net profit margins above 85% over the past five years.
The firm operates a hold strategy, retaining its properties to generate rental income rather than selling assets. This approach provides stable cash flow but limits expansion compared to developers that recycle capital through asset sales.
The exchange said the planned listing supports efforts to diversify listed assets and attract new issuers to public markets.
Points clés à retenir
The proposed listing reflects a broader push by African exchanges to expand beyond traditional sectors such as banking and telecoms. Alternative markets are designed to attract smaller or emerging companies, offering simplified listing requirements and access to capital. The strong demand seen in Dot Com Zambia’s IPO shows that investor appetite exists, but it may vary depending on the sector. Real estate offers predictable income through rental yields, which can appeal to investors seeking stability, but it lacks the growth narrative often associated with technology listings. OneSquareK’s model is closer to an income-generating asset vehicle than a traditional developer, which may position it as a yield play rather than a growth story. For the Lusaka Securities Exchange, attracting companies like OneSquareK helps broaden the market and improve depth, which remains limited. For investors, the key factors will include valuation, transparency of financials and the sustainability of rental income. The absence of detailed offer terms at this stage means the prospectus will be critical in shaping demand.
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