FORMER Zimbabwe Stock Exchange-listed drug maker Caps Holdings is on the brink of collapse after the High Court Sheriff ordered the sale of some of its assets to pay money owed to CBZ Bank.
Businessman Mr Fred Mtanda is the controlling shareholder of the company which is involved in the manufacture and distribution of pharmaceuticals. It also runs St Anne’s Hospital in Harare. The amount owed to CBZ Bank could not be ascertained by the time of going to print.
The assets to go under the hammer on June 14 include its giant factory in Harare’s Southerton industrial area.
The property is comprised of a drug manufacturing plant, a three-storey administration block with 47 offices, kitchen, bar with dispensary sections, packaging section, coldrooms, receiving bays and a clinic.
“Immediately after conclusion of the auction, the highest bidder shall deposit with the auctioneer an amount sufficient to cover the purchase,” said the auctioneer, Clipcrunt Real Estate in a statement yesterday.