First Capital Bank suspends unbundling

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FIRST Capital Bank, (FCB) has suspended the proposed unbundling of non-core assets for listing on the Zimbabwe Stock Exchange (ZSE).
In a statement, on Monday, FBC formerly Barclays Bank Zimbabwe said it had indefinitely deferred plans to withdraw the financial institution’s non-core banking properties.
“Further to the cautionary statement issued by the board on September 14, 2018 which was last renewed on December 31, 2018, the board advises shareholders and members of the public that the proposed unbundling of the company’s non-core banking properties into a separate entity to be listed on the Zimbabwe Stock Exchange has been placed on hold,” said FCB.
The bank advised shareholders and the investing public to take note of the withdrawal of the cautionary statement and to exercise caution when dealing with the company’s shares.