Chronicle Editor
INVICTUS Energy, an Australia Stock Exchange (ASX) listed junior oil and gas exploration company advancing the Muzarabani project in Zimbabwe, has signed an equity subscription agreement with a leading local private equity fund.
The company has entered into a binding share subscription undertaking with Mangwana Opportunities Fund, which holds prescribed asset and tax exempt status from the Ministry of Finance and Economic Development.
Mangwana Opportunities Fund is managed by Mangwana Capital, which is funded by Zimbabwean institutional investors including pension funds, with investments majoring in agriculture, mining and tourism fields.
The fund is an investor owned, closed end investment company and has a decade long investment horizon.
ALL SHARE
The All Share index closed the day higher at 487.39 points after adding 6.66points (1,39 percent). Old Mutual Limited further added $0,3140 to $43,0478, OK Zimbabwe Limited rose by $0,1086 to settle at $1,8093 and First Mutual Limited traded $0,1033 firmer at $1,5200. Two more counters to advance were Masimba Holdings which added $0,0800 to end at $0,4800 and First Mutual Properties was $0,0784 higher at $1,1300.
Only three counters lost ground; Delta Corporation Limited lost $0,0347 to $5.8636, Innscor Africa Limited eased $0,0111 to $7,1602 and Padenga Holdings Limited dropped $0,0001 to $5,3999.
Online Reporter