THE Securities and Exchange Commission of Zimbabwe (SecZim) has implemented deterrent measures and moral suasion to stem the tide of Zimbabwe Stock Exchange (ZSE)-listed companies migrating en masse to the US dollar-denominated Victoria Falls Stock Exchange (VFEX).
This development follows the recent announcement by Edgars Stores of its intention to move its listing to the VFEX.
SecZim chief executive, Anymore Taruvinga, revealed to The Financial Gazette that deterrents put in place by the commission included a requirement for shareholders to vote on such moves, with majority shareholders excluded from the vote.
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