ZSE closes near flat as TSL, Nampak mull a major transaction

Tapiwanashe Mangwiro

The Zimbabwe Stock Exchange (ZSE) closed the day slightly lower yesterday, with the All Share Index easing by 1.02 points or 0,37 percent to finish at 270.45 points.

The session saw mixed trading, with some losses outweighing modest gains across sectors.

Leading the fallers was British American Tobacco Zimbabwe Limited (BAT.zw), which dropped a significant ZiG 904.00 to settle at ZiG 7,000.00. This marked one of the session’s largest single drops, putting pressure on the overall market. Hippo Valley Estates Limited (HIPPO.zw) also saw a sharp decline, shedding ZiG 60.00 to close at ZiG 800.00.

Other notable losses included Delta Corporation Limited (DLTA.zw), which fell by ZiG 25.36 to end at ZiG 2,002.88, and Dairibord Holdings Limited (DZL.zw), which slipped ZiG 17.03 to close at ZiG 230.00. EcoCash Holdings Limited (EHZL.zw) registered a marginal decrease of ZiG 1.23 to finish at ZiG 42.99.

On the upside, Afdis Distillers Limited (AFDIS.zw) led the gainers, rising by ZiG 96.64 to close at ZiG 807.75. Nampak Zimbabwe Limited (NPKZ.zw) also saw upward momentum, adding ZiG 15.75 to settle at ZiG 122.00. Mashonaland Holdings Limited (MASH.zw) rose by ZiG 7.76, closing at ZiG 134.26, while Tanganda Tea Company Limited (TANG.zw) gained ZiG 2.18 to finish at ZiG 200.05.

On the Victoria Falls Exchange (VFEX), Simbisa Brands led the gainers, climbing 7,26 percent to USD$0.34. Zimplow Holdings advanced 1,47 percent to USD$0.0138, while African Sun gained 1,37 percent to close at USD$0.0443. Padenga Holdings and Innscor Africa saw marginal gains of 0,06 percent and 0,04 percent, respectively.

Among the losers, First Capital Bank eased 0,41 percent to USD$0.0487, while Axia Corporation lost 0,13 percent to settle at USD$0.0799.

In corporate developments, TSL Limited has entered into negotiations to acquire Nampak’s 51,43 percent stake in Nampak Zimbabwe for US$25 million. The deal remains subject to regulatory approvals, with shareholders advised to exercise caution. Following the transaction, TSL will be required to make a mandatory offer to remaining shareholders, potentially altering the ownership structure of one of Zimbabwe’s key packaging firms.