ZSE lifts suspension on CFI shares

October 8, 2021

BUSINESS REPORTER

The Zimbabwe Stock Exchange (ZSE) has lifted the suspension on the trading of CFI Holdings shares after the company regularised corporate shortcomings, the bourse said on Friday.

Trading in the securities of CFI will commence on October 11, ZSE chief executive officer Justin Bgoni said in a statement.

Trading in the securities of CFI was suspended on January 2, 2018 after the company failed to comply with the free float requirements and some corporate governance-related matters under the ZSE Listing Requirements.

In a statement Friday, ZSE chief executive officer Justin Bgoni said the bourse “is satisfied that CFI has regularised its corporate governance shortcomings as required under the listing requirements”.

He said ZSE had given CFI a moratorium of 5 years to address the free float requirements.

The ZSE will be reviewing progress on regularisation of this requirement on an annual basis, Bgoni said.

“During the subsistence of its suspension, CFI demonstrated commitment to its listing on the ZSE by ensuring timely compliance with its continuing listing obligations and reporting cycles,” he said.

 

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