Andrew
Online Reporter
Tanganda Tea Company Limited will list on the Zimbabwe Stock Exchange (ZSE) this Thursday (December 9).
Tanganda is the largest producer, packer and distributor of tea in Zimbabwe.
The agriculture-focused business is being separated from parent company, Meikles Limited.
At an extraordinary general meeting held on December 3, Meikles shareholders approved the demerger of the group’s interest in Tanganda, by way of a dividend in specie of 100 percent of its interest in the business.
In terms of the proposed listing, Tanganda will list by way of introduction of its entire issued share capital of 261 064 590 ordinary shares of $0,01 nominal value on the local bourse.
Online Reporter