ZSE reopens trading, $10, 6 million shares traded

By ZBC Reporter
TRADING on the Zimbabwe Stock Exchange (ZSE) re-opened this Monday, with shares worth 10,6 million Zimbabwe dollars exchanging hands on the market.
With over a month since activity on the local markets was suspended by the government to pave way for investigations into the alleged illicit dealings, trading on ZSE resumed this Monday in line with the regulatory authority’s directive.
However, dual-listed counters Old Mutual, Seedco and PPC limited remained suspended from the local bourse after investigations revealed a strong link between price behaviours and transition patterns of the three firms.
Zimbabwe Stock Exchange chief executive officer Mr Justin Bgoni while confirming resumption of trading said shares worth over 10 million dollars were traded on the market.
“I can confirm the market has now started trading and it is our belief that the development will further create a platform for better and attractive conditions to relevant players,” he said.
Trading on the local stock exchange was suspended on June 28 following the unearthing of speculative and illicit behaviours.
Mobile money platforms and the ZSE were cited by the government as elements that were allegedly used to promote parallel market activities.
Treasury says investigations have been finalised with a detailed report being submitted to the government.

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