Zimbabwe: Adios ZSE ! As Seedco International Makes Vfex Listing
Hybrid seed conglomerate, Seedco International has its listing on the Zimbabwe Stock Exchange (ZSE) terminated with effect from tomorrow and becomes the first company to list on the Victoria Falls Stock Exchange (VFEX), 263Chat Business has established.
The development marks an end to the company’s two year spell on the bourse.
Further to the notice published on 31 July 2020 regarding the halt in the trading of Seed Co International Limited (“Seed Co International”) shares, the ZSE announced the termination of listing of the company in a statement.
However, Seedco International which also trades on the Botswana Stock Exchange has listed on the VFEX set to be launched tomorrow.
“The Victoria Falls Stock Exchange Limited (“VFEX”) is pleased to announce the listing of Seed Co International Limited’s (“Seed Co International”) shares with effect from 26 October 2020,”said the VFEX.
Seedco together with two other multiple-listed companies- Old Mutual and PPC were earlier this year suspended from the ZSE due to the fungubility of their shares which was being abused by exchange rate manipulators.
The VFEX will trade in United States Dollars, and has seen growing interest from several companies in recent months.
Australia Stock Exchange-listed, Invictus Energy which is undertaking the highly prospective Muzarabani oil and gas project has expressed interest in the VFEX adding to the list of other prospective companies with interest such as PPC, Old Mutual and Caledonia.