Zimplow to list on Victoria Falls Stock Exchange

ZIMPLOW Holdings Limited is expected to list on the Victoria Falls Stock Exchange (VFEX) tomorrow after recently stopping trading on the Zimbabwe Stock Exchange (ZSE).

The company held an extraordinary general meeting of shareholders recently and resolved to delist from ZSE and have the company shares removed from the main board of the Zimbabwe Stock Exchange through voluntary termination of the listing in terms of Section 11 of the ZSE Listing Requirements.

The resolution meant Zimplow shares be listed on VFEX and that the company’s ordinary shares be listed on the VFEX in accordance with the VFEX listing requirements and all was passed.

Company directors were authorized to give effect to the resolutions paving way for tomorrow’s listing.

In a statement, Zimplow company secretary Ms Sharon Manangazira said: “The Company is expected to delist from the Zimbabwe Stock Exchange (“ZSE”) on Wednesday the 12th of July 2023, followed by its listing on the VFEX on Friday the 14th of July 2023.”

Zimplow is taking the VFEX listing as an opportunity to build a strong regional and international profile, and attract more investors at a time it is strategically positioning itself to be a regional agriculture and earthmoving equipment supplier.

It becomes the 13th listing on the United States dollar denominated bourse

ZSE has since instituted a trading halt on Zimplow shares to allow for the settlement of shares.

The shares will start trading on VFEX on Monday

VFEX is a subsidiary of the ZSE launched in 2020 as an off-shore financial services centre and the only USD based exchange in Africa.

-@ncubeleon