Zimbabwe Stock Exchange targets listing 20 companies by end of 2023
Written by Skyz Metro FM on July 21, 2023
The Zimbabwe Stock Exchange has disclosed its plans to list 20 new companies by the end of 2023.
The Zimbabwe Stock Exchange Chief Executive Officer Mr Justin Bgoni said they are targeting listing a total of 20 companies, stating that they have already listed 14 which sums up to 70% of their yearly set target.
The (ZSE) provides facilities for the listing of the securities of companies, domestic or foreign and provides its users with an orderly market place for trading in such securities and regulates accordingly.
In corporate finance, a listing refers to the company’s shares being on the list or board of stock that are officially traded on a stock exchange.
”The target is to have about 20 companies by end of this year. We are on 14 and we are comfortable and confident that we will get to 20 by year end. These are not migrations but new companies. In terms of paying dividents and share price we have done decently well so we are really happy with where we are”, he said
Mr Bgoni further added that there are great benefits attatched to being listed on the board. That is, being awarded an ability to raise capital in hard currency, ability to use different securities to raise capital, debt, equity, Tax incentives for shareholders, Lower trading fees which may lead to improved liquidity, Enhanced profile within and outside Zimbabwe and Lower exchange control risk.