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THE Victoria Falls Stock Exchange (VFEX) has welcomed the listing of Invictus Energy Limited Zimbabwe Depository Receipts (ZDRs), as the 16th listing for the bourse.
Launched in October 2020, VFEX, a USD-denominated bourse, is a subsidiary of the Zimbabwe Stock Exchange (ZSE). It was established to kick-start the Offshore Financial Services Centre (OFSC) earmarked for the special economic zone in Victoria Falls.
In a statement on Friday announcing the listing of Invictus Energy Limited ZDRs, ZSE chief executive officer (CEO), Mr Justin Bgoni said they were excited about the listing.
“The VFEX is excited to announce the listing of Invictus Energy Limited Zimbabwe Depository Receipts (Invictus Energy ZDRs), which will trade on the VFEX. The Invictus Energy ZDRs become the third Depository Receipts on the VFEX and the 16th listing on our exchange,” he said.
“The guest of honour, the Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube, reiterated how the listing of the ZDRs is an important initiative that strengthens the local capital markets and will enable VFEX to tap into new markets, attract a broader range of investors and provide an additional funding channel for economic growth.”
He said the minister encouraged local and international investors to actively participate in trading the instrument as it has the potential to unlock new dynamic industries in energy and across various sectors of our economy.
Mr Bgoni said the Minister of Energy and Power Development, Edgar Moyo, highlighted the importance of Invictus’s discoveries, which are foundational to our future energy security and will position Zimbabwe as a key player in the regional energy sector.
The managing director (MD) of Invictus Energy Limited, Mr Scott Macmillan, during his remarks emphasised his company’s commitment to explore and develop oil and gas in Zimbabwe.
He said their mission is to unlock the energy potential of our great nation and deliver energy security for the people of Zimbabwe.”
Mr Macmillan said Invictus Energy ZDRs will trade under the symbol: INV.VX and ISIN ZW VX 301 DR 03 7, while investors are advised to contact the VFEX registered securities dealers for further guidance.
Companies listed on the VFex include the African Sun Limited, Axia Corporation Limited, Bindura Nickel Corporation Limited, Caledonia Mining Corporation, First Capital Bank, Innscor Africa, Karo Mining Holdings, National Foods Limited, Nedbank Group Limited, Padenga Holdings, Seedco International, Simbisa Brands Limited, Edgars Stores Limited and Vision Capital Group (VCG).
All international companies invested in Zimbabwe can seek listing on VFEX. The Government has committed that the VFEX will remain a foreign exchange market in line with Vision 2030, which requires a lot of foreign investment as the country needs a vehicle that will make it attractive to foreign investors hence the VFEX, which has tax benefits.
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