VFEX to expedite Nedbank trades

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NEDBANK Group (Nedbank) says the conversion of its shares to depository receipts on the Victoria Falls Stock Exchange (VFEX), which individual stockholders can elect to do before November 11, will shorten trade settlement by six days, among other benefits.
The financial services group announced Friday that the option was open to shareholders “who are interested in trading their equity securities in Zimbabwe”.

Old Mutual unbundled Nedbank shares to its shareholders in October 2021 and until now, Zimbabwean stockholders had been trading scrip on the Johannesburg Stock Exchange through a Corpserve Registrars (Corpserve) dealing service.