NEW: Edgars ends trading on Zimbabwe Stock Exchange, shifts to Victoria Falls Stock Exchange

27 Mar, 2024 - 12:03 0 Views
NEW: Edgars ends trading on Zimbabwe Stock Exchange, shifts to Victoria Falls Stock Exchange

The Sunday Mail

Online Reporter

Edgars Stores Limited will trade on the Zimbabwe Stock Exchange (ZSE) for the last time on Wednesday, ahead of its shift to the United States dollar-denominated Victoria Falls Stock Exchange (VFEX).

Edgars follows in the footsteps of companies such as Innscor, Axia Corporation, Padenga Holdings, First Capital Bank and Zimplow, among others, that have moved from the ZSE the VFEX, to take advantage of incentives offered by the new bourse.

ZSE chief executive officer Mr Justin Bgoni confirmed the development.

“The ZSE will therefore institute a trading halt on Edgars Stores Limited shares effective Thursday, March 28 2024 to allow for the settlement of shares,” he said in a statement.

Following an extraordinary general meeting (EGM) held on March 25, Edgars requested authorisation from the Securities and Exchange Commission of Zimbabwe to delist from the ZSE and subsequently list on the VFEX.

Mr Bgoni said trading of Edgars’ shares on the VFEX is expected to start on April 8 2024, subject to approval by the Securities and Exchange Commission of Zimbabwe.

 

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