Farai Mabeza, Senior Staff Writer 
8
SEEDCO International (SCIL) has made an offer to acquire all shares in SeedCo Limited (SCL) to complete a merger of the two companies.
This comes after SCIL shareholders approved the proposed transaction, which is meant to strengthen its listing on the Victoria Falls Stock Exchange (VFEX), on December 31, 2020. SCL shareholders are being offered one SCIL share for every 0,98 shares they hold in the seed manufacturer.
Advertisements
“Following recent developments in the economy necessitated by the Zimbabwean monetary authorities’ desire to stabilise the economy through eliminating foreign exchange volatilities, the board of directors of SCIL resolved to bundle the two companies.
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.
Login if you have purchased
