ZSE delists National Foods as it migrates to VFEX




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THE Zimbabwe Stock Exchange (ZSE) says it will be delisting agro-processor National Foods Holdings Limited to pave way for their migration to the Victoria Falls Stock Exchange (VFEX).
In a statement, ZSE chief executive officer (CEO) Mr Justin Bgoni said they had instituted a trading halt on National Foods Holdings with effect from Thursday.

“Following the publication of the addendum to the National Foods Holdings circular on 24 November and the approval granted during the Extraordinary General Meeting of Shareholders held on 12 December 2022, the investing public is advised that the last day of trading in National Foods Holdings securities on the ZSE shall be Wednesday, 14 December 2022.
“The ZSE will therefore institute a trading halt on National Foods Holdings with effect from Thursday, 15 December 2022 to allow for the settlement of shares,” said Mr Bgoni.

 National Foods Holdings Limited

He said following the implementation of the halt, National Foods Holdings Limited will be delisted from the ZSE on Friday, 16 December 2022 and subsequently list on the VFEX on Friday, 23 December 2022.
Mr Bgoni said investors will not be able to buy or sell National Foods Holdings’ securities during the period the halt is in effect and the securities will start trading on VFEX on Friday, 23 December 2022.
The USD-denominated VFEX is a subsidiary of the ZSE launched in 2020 as an off-shore biased financial services centre, as part of efforts to attract global capital and restore foreign investor confidence in Zimbabwe’s capital markets and help companies raise capital in foreign currency.

The USD-denominated VFEX is a subsidiary of the ZSE launched in 2020 as an off-shore biased financial services centre, as part of efforts to attract global capital and restore foreign investor confidence in Zimbabwe’s capital markets and help companies raise capital in foreign currency.

At its inception, VFEX began trading with leading seed producer and distributor, SeedCo International Limited with mining giant Caledonia Mining, skins and meat processor Padenga and Bindura Nickel Corporation coming on board later.
Several firms have recently announced intentions of listing. Quick restaurants services group Simbisa Brands also migrated from ZSE to VFEX this month. Nedbank Zimbabwe has also indicated its intention to shareholders to list.
Financial services group GetBucks has also indicated plans to migrate to the VFEX from the ZSE.
The platform is seen as a gateway for companies in Zimbabwe, Sadc and the rest of Africa to raise capital in foreign currency and also provide investors to trade in the secondary market in hard currency. – Sunday News