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Agricultural seed company Seed Co International Limited has become the first company to be listed on Zimbabwe’s new foreign currency denominated bourse Victoria Falls Stock Exchange (VFEX).
The listing will be effective from today, according to a statement issued by the chief executive officer of the Zimbabwe Stock Exchange (ZSE) Justin Bgoni.
“Seed Co International becomes the first issuer to list on the main board of VFEX,” he said.
In another statement issued around the same time, Bgoni had announced the termination of listing of Seed Co on the ZSE.
He advised holders of the company’s securities that they would no longer be traded on the ZSE with effect from Friday.
VFEX will officially open its doors to the investing public on Friday and will operate as a wholly-owned subsidiary of the ZSE in the resort town of Victoria Falls.
Trading, depository services, clearing and settlement on the new exchange will commence today.
Government hopes that the new market will result in an inflow of hard currency to Zimbabwe. — Enditem
Online Reporter