The Zimbabwean government has lifted the suspension of SeedCo International Limited, delisted from Zimbabwe Stock Exchange (ZSE); restoring its fungibility of shares on the Victoria Falls Stock Exchange. ZSE now trading after suspension of trades. SedCo was suspended with Old Mutual and PPC. We present the statement by the Minister of Finance.
RESTORATION OF FULL FUNGIBILITY OF SEEDCO INTERNATIONAL LTD SHARES
On 15 March 2020, Government, through General Notice 583 of 2020, EXCHANGE CONTROL (SUSPENSION OF FUNGIBILITY OF CERTAIN SHARES) ORDER, 2020, suspended the fungibility of shares of the following companies, which were then listed on the Zimbabwe Stock Exchange:-
- Old Mutual Limited
- PPC Limited
- SeedCo International Limited
Subsequently, the three counters were delisted from the ZSE and given an option to re-list on the newly established Victoria Falls Stock Exchange, (VFEX).
Following full compliance by SeedCo International Limited, and the successful relisting of the company’s on VFEX, I hereby announce the lifting of all fungibility restrictions on SeedCo International Limited shares with immediate effect.
Government remains committed to ensuring the soundness and stability of financial markets in order to maintain confidence and deliver long term value to stock market investors.