Unifreight shares surge on Zimplow deal

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UNIFREIGHT Africa’s (Unifreight) shares have gained a market topping 4 000 percent on the Zimbabwe Stock Exchange (ZSE) this year, spurred by an ongoing equity deal with Zimplow Holdings (Zimplow).
The deal, which will see the logistics company disposing of its shareholding in Tredcor Zimbabwe (Tredcor) and Birmingham Investments (Birmingham) in exchange for a 12,5 percent stake in Zimplow, was approved by shareholders late last year.

Unifreight stock closed February at $7,94 per share, notching year-to-date gains of 4 168,82 percent over its 2020 opening price of $0,19 per share.
The counter picked up 2 373,52 percent in February alone, compared to the market benchmark All Share Index’s gains of 57,58 percent since the beginning of the year.