ZSE Optimistic of Old Mutual, PPC trading resumption

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THE Zimbabwe Stock Exchange (ZSE) says it is optimistic of a “quick” resolution to the dispute between the government of Zimbabwe and-Old Mutual Zimbabwe (OM) and PPC Zimbabwe over the trading suspension of their shares on the local bourse.
Old Mutual and PPC have been in protracted engagements with the government of Zimbabwe since their suspension from the ZSE in June 2020.s
The two counters, together with Seed Co International were suspended from the ZSE due to the fungibility of their shares as these firms were also listed on foreign bourses.
The government claimed that speculation involving the three counters on the local bourse was undermining the value of the local currency and driving inflation.
Following the establishment of the Victoria Falls Stock Exchange (VFEX) in October 2020, the three counters were then presented with an option to list on the US dollar-denominated bourse which saw Seed Co getting its listing while OM and PPC abstained.