EDGARS Stores’ (Edgars) share price was up by 14,7 percent last Friday following the retailer’s announcement of its intention to delist from the Zimbabwe Stock Exchange (ZSE) and relist on the US dollar-denominated Victoria Falls Stock Exchange (VFEX).
The surge represents the most significant single-day gain for Edgars in over six months.
The company’s proposed move, pending shareholder and regulatory approval, reflects the diminishing clout of the volatile Zimdollar amid increasing dollarisation.
“Further details of the transaction will be provided to shareholders once all regulatory processes have been finalised,” a company statement said last Wednesday.
Should the move proceed, Edgars would become the 15th listing on the VFEX since its 2020 launch and the 12th to migrate from the ZSE.
Edgars’ announcement aligns with a wider trend of ZSE-listed companies shifting to US dollar accounting as the greenback dominates local transactions.
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