TINASHE MAKICHI
Mega Market, a Mutare based investor has acquired a 10 percent stake in Zimbabwe Stock Exchange listed Dairibord Holdings Limited.
Dairibord Holdings Ltd. engages in the manufacturing, processing, marketing, and distribution of milk products, foods and beverages. It operates through the following segments: Manufacturing and Distribution, Properties and Corporate.
Its Manufacturing and Distribution segment involves the manufacturing and marketing of milk, foods and beverages in Zimbabwe and Malawi.
Old Mutual Investment Group Zimbabwe is the major shareholder in the company with 15 percent while Serrapin Investments Limited controls 12,6 percent followed by the Mining Industry Pension Fund and Cron Von Seidel with the rest being minorities.
The investment means this investor becomes the third largest shareholder in the company. The trade which was done early this month was executed by new stockbroker Morgan and Company.
“A Mutare-based investor called Mega Market has snapped up a 10 percent stake in Dairibord Holdings Limited and the investment is from a foreign fund,” said a source.
On the overall stock market performance yesterday, EFE Securities said the ZSE rebounded in mid-week session as three of the benchmark indices closed pointing northwards ahead of the 2019 budget presentation by the Finance and Economic Development Minister Mthuli Ncube today.
The primary all share index gained 0,56 percent to close at 156,34 points while, the Industrial Index added 0,62 percent to 525,34 points.
The Top Ten Index advanced 1,03 percent to end at 160.11pts buoyed by heavies Econet, Padenga, Old Mutual and Delta.
ZB Financial Holdings headlined the gainers of the day after putting on 8,22 percent to settle at $0,3700 trailed by Econet recovered from yesterday’s losses with a 4,12 percent surge to end pegged at $1,6531, having traded an intra-day high of $1.8500.
The third place of the risers’ table was held by Axia which improved 2,16 percent to $0,4495 while, Padenga was on the forth position with a 0,92 percent jump to $0,9300.
Old Mutual wrapped the top risers’ list after ticking up 0,91 percent to close at a volume weighted average price of $7,8476 having touched an intra-day high of $7,8600. The three shakers of the day were led by TSL that let go $13,03 to $0,5218, followed by Bindura that retreated 9,72 percent to $0,0650.
Retailers OK Zimbabwe completed the fallers of the day after dropping 1,07 percent to $0,2950 closing with a spread of $0,2390-$0,2950. The market registered a positive breadth of five as eight counters rose against three that ended in the red.
Volume of shares traded succumbed 61,01 percent to 4,84 million, yielding a turnover of $5,96 million which was a 26,81 percent fall from prior session. Axia and Econet were the top volume drivers claiming 46,02 percent and 19,25 percent of the aggregate respectively.
Anchoring the value out turn of the day were Econet, Old Mutual, Axia, Innscor and Delta with a combined contribution of 91,51 percent to the total.
