Slow start for BNC on VFEX

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EVEN though activity on the Victoria Falls Stock Exchange (VFEX) has been improving, turnover remains low, with Bindura Nickel Corporation (BNC) shares having traded in only a single instance since the company moved to the US$-denominated market mid-December.

The company’s shares listed on the VFEX on December 17 after a migration from the ZWL-denominated Zimbabwe Stock Exchange, which management hopes will enhance its ability to source capital in an “appropriate currency”, and allow it to benefit from a better foreign currency earnings retention regime.