Chronicle Editor
Senior Business Writer
RETAIL clothing outlet, Truworths shares stopped trading today at the Zimbabwe Stock Exchange (ZSE) after it applied for a voluntary suspension.
The firm says it wants to “attend to some compliance-related matters.”
In a notice to shareholders, ZSE chief executive officer Mr Justin Bgoni said: “The Zimbabwe Stock Exchange Limited hereby notifies the investing public that trading of Truworths Limited shares on the Zimbabwe Stock Exchange will be halted effective 07 March 2024.
“Truworths has applied for voluntary suspension of its securities from trading on the ZSE to attend to some compliance-related matters. The application is under consideration.”
He added that the market will be advised of any further developments with regard to the matter in the next few days.
Recently, the firm said sales and profitability continue to be adversely affected by the importation of sub-standard clothing and footwear by the informal sector that does not pay tax.
Truworths Limited is a company incorporated and domiciled in Zimbabwe whose shares are publicly traded. Its core business is the retailing of clothing, footwear, textiles and accessories
Bongani Ndlovu
Online Reporter