Stock exchange targets six listings
LIVINGSTONE MARUFU
The Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) intend to list at least six listings of different securities on their respective exchanges, Business Times can report.
VFEX, denominated in United States dollars, is a ZSE subsidiary.
Group CEO, Justin Bgoni (pictured) confirmed the target.
“Our target for this year is to have at least six listings in different securities,”Bgoni told Business Times.
He added: “Our focus is to grow VFEX with new listings altogether and we hope to have initial public offerings (IPOs) this year, based on our current pipeline,” he said.
“As you might be aware, listing takes between six to eighteen months and through the various engagements we have been conducting, we believe we are well on course and we are not experiencing any slowdown.”
He said the current economic climate, which compels shareholders to safeguard their investment, is the reason behind VFEX’s extraordinary rise.
According to Bgoni, the listing of Real Estate Investment Trusts (REITs) might maintain the operations of the ZSE , which lost favour after the fall of the Zimbabwean dollar.
This development follows the inauguration last Friday of the ZSE’s training program for potential issuers.
Bgoni claims that a broad range of topics, including the listing procedure, listing requirements, market trends, compliance obligations, and advice on overcoming listing issues, will be covered in the training programme.
The training sessions will cover financial and integrated reporting as well as techniques and resources for developing successful investor relations strategies and building trust with key stakeholders.
According to him, the program is an organized effort created to provide potential issuers interested in entering the capital markets through an IPO or other listing methods with advice, assistance, and mentorship.
According to Bgoni, the prospective issuers training program will educate prospective issuers on the essential elements of listing procedures, listing prerequisites, and the significance of strong corporate governance.
According to him, the program assists potential issuers with their listing journey by bringing together seasoned industry specialists.
The bourse hopes to equip potential issuers with the required information, resources, and assistance through this initiative.
Bgoni said the intake would only comprise 20 companies.
According to him, the goal of the prospective issuers program is to simplify the seemingly complicated listing process and give companies wanting to list clear counsel.
