VFEX gets off the mark as Seed Co Int registers its first trade

VFEX

The Victoria Falls Stock Exchange registered its first trade this morning, two weeks after its launch. Its sole listed stock Seed Co International, which was yesterday granted full fungibility status, recorded 1 000 shares, which traded at 18c.

This is below the set base price of 21.90c and also below the Botswana Stock Exchange equivalent of 22c.

VFEX together with the Ministry of Finance hope to create momentum for the new exchange when PPC and Old Mutual list. Targeted mining companies might take longer as the Listings Rules have to be edited to suit the mining industry’s specific needs.

Source – finx