STAFF WRITER
In light of the launch of Zimbabwe Gold (ZiG), a new currency, the Zimbabwe Stock Exchange (ZSE) is rebasing all of its indices.
According to ZSE, all ZSE indices will have their bases reset to 100 basis points.
“The re-basing is necessary to allow the indices to accurately reflect the performance of the market in the context of the new currency ZiG,” the bourse said.
Following the release of the new monetary policy measures, ZSE revalued all the listed stock converting the market capitalisation of ZWL$73 517 828 598 027 to ZiG29 422 146 148.833. The conversion was based on yesterday’s exchange rate of ZiG1:ZWL$2 498.7242.
“The trading adjustments on the ZSE will be converted at the initial conversion exchange rate of ZiG1 to ZW$2498.7242 which is prescribed in the operational manual for structured currency issued by the RBZ on 5 April 2024,” ZSE said.
The bourse said the opening trading price for all share would now be denominated in ZiG, with opening prices for the trading session effective April 8, reflecting the ZiG currency.
