WHILE Getbucks Microfinance Bank is still in negotiations for a recapitalisation, it is now also considering a migration of its shares from the Zimbabwe Stock Exchange (ZSE) to the Victoria Falls Stock Exchange (VFEX).
In a statement last week, the company urged caution in the trading of its securities, saying the full impact of the move was still being determined.
“If successful, it may have a material effect on the price of the securities,” read the statement.
Three other companies have already migrated to the US$-denominated exchange – Seed Co International, Padenga Holdings and Bindura Nickel Corporation.
The only other company that is quoted on the exchange, which was introduced in 2020, is Caledonia Mining Corporation.
Analysts say the appeal of a US$-tag, amid high inflation, could see the new exchange marginalising the main bourse – The Zimbabwe Stock Exchange – which is denominated in the free-falling Zimbabwe
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.