Online Reporter
Nqobile Bhebhe, [email protected]
First Mutual Properties (FMP) has officially delisted from the Zimbabwe Stock Exchange (ZSE), with the voluntary termination of its listing taking effect on Thursday, marking the company’s transition into an unlisted public entity.
The move follows shareholder approval at an Extraordinary General Meeting held on June 2 and the fulfilment of all regulatory requirements governing voluntary delistings.
In a notice to shareholders, the property investment company said the delisting became effective on July 2.
“The Company has satisfied all regulatory requirements for the voluntary termination of its listing on the Zimbabwe Stock Exchange.
Accordingly, the Effective Date of Delisting will be Thursday, 2 July 2026,” FMP said.
The delisting was accompanied by a cash offer from majority shareholder First Mutual Holdings Limited (FMHL), underwritten by Morgan & Co International (Private) Limited, to acquire shares held by minority investors at US$0.033 per share.
The offer, which opened on June 3 and closed on June 24, attracted valid acceptances for 39,649,961 shares, translating to a total consideration of US$1,308,448.71.
According to the company, the tendered shares were transferred on July 1, while payments to accepting shareholders will be made through electronic bank transfers within seven business days, subject to applicable taxes and statutory levies.
Following the delisting, shareholders who did not accept the offer will continue holding shares in the company.
FMP said details of an Over-the-Counter (OTC) trading platform, through which its shares may be traded after the delisting, will be communicated in due course.
An unlisted public company is a business that remains publicly owned, with potentially many shareholders, but whose shares are no longer traded on a formal securities exchange such as the ZSE.
While it continues to operate under public company governance and disclosure requirements, investors cannot buy or sell its shares through the stock exchange.
Instead, trading typically takes place through private transactions or an OTC platform.
FMP’s exit reduces the number of companies listed on the Zimbabwe Stock Exchange and reflects a growing trend by some firms to restructure their capital and ownership outside the public market while maintaining their status as public companies.
