Tanganda Tea to relist on ZSE this Thursday

By Stanley James

Business Editor

THE Zimbabwe Stock Exchange is on course to end a listing drought, with a second counter of the year, Tanganda Tea Company returning to the market on Thursday.

A visit to the local stock exchange this Wednesday revealed preparations are at an advanced stage for the relisting of the tea manufacturing entity.

The company will become the second to list on the market this year, raising optimism for further listings on a market that had in the past years experienced a listing drought.

Zimbabwe Stock Exchange (ZSE), Chief Executive Officer Justin Bgoni gave an insight on what to expect.

“It is true Tanganda is bouncing back and we are excited over such developments as they will enable us to look forward and assess further our position given the fact that we had experienced no listing in over a decade,” he said.

The company recently revealed in a circular to its shareholders that its return on the ZSE is mainly driven by the need to further its growth, increase the market portfolio base, diversify capital raising models and enhance investor returns in the form of dividends.