Simbisa Brands Limited chairman Addington Chinake told The Herald they have put on hold plans for a secondary listing on the London Stock Exchange.
He said the plan was shelved because the market is currently not conducive for the transaction. Chinake said the group had not put enough liquidity into the deal and would now focus on growing its business as it readies for implementation in the near future. Said Chinake:
The market conditions are not very suitable. But shareholders will be notified on the update. The board is meeting and this is one of the issues to be looked at.
More: Herald
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