Zimplow Holdings Limited to delist from ZSE

Leafias Mazviro

In a significant move that marks a shift in its trading platform, Zimplow Holdings Limited, a prominent company listed on the Zimbabwe Stock Exchange (ZSE), has announced its decision to delist from the ZSE.

The firm will officially conclude its trading activities on the ZSE on July 13, 2023, and subsequently commence trading on the Victoria Falls Stock Exchange VFEX on July 14, 2023.

This development brings forth new opportunities and challenges for the company, reshaping its presence within the local stock market landscape.

In a circular, ZSE said it will institute a trading halt on Zimplow shares effective Tuesday, 11 July 2023 to allow for the settlement of shares.

“Investors will not be able to buy or sell Zimplow Holdings Limited’s shares during the period the halt is in effect,” read a circular released by ZSE.

However, some analysts pointed out that the parting of companies from ZSE to VFEX could have a negative impact on the ZSE. The ZSE has faced challenges in recent years, including a decline in trading volumes and liquidity, as well as difficulties in attracting new listings.

The departure of companies to the VFEX could further reduce trading volumes and liquidity on the ZSE, as investors may shift their focus to the new exchange.

The VFEX is a successful (already have 12 listings) in attracting new listings, investments and promoting economic growth.

Zimplow is a leading distributor of global brands such as Massey Ferguson, CAT, Valtra, Perkins, Monosem, Mealie brand & CT Bolts.

The group operates through Mealiebrand, Farmec, Barzem, Powermec, CT Bolts, Trentyre, Scanlink and Manica Road Investments. Through the industrial capacity at Mealiebrand, the group produces different ground engaging equipment and tools to cater for agricultural and mining needs.

Zimplow started in 1939 as an animal drawn implements manufacturer. For 80 years Zimbabwe’s farmers have been tilling the soil with Zimplow’s products.

Zimplow is now the largest distributors of agricultural, infrastructure and mining equipment in the country, and offer backup support to all those they do business with.

The industrial engineering capacity, together with distributorships of global brands set Zimplow as a centre of quality and innovative equipment solutions in Zimbabwe and the rest of Africa.

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