Business - Companies & Markets - Local - October 22, 2020

Seed Co International becomes first issuer to list on the main Board of VFEX

By Falton Zveushe

SEED Co International Limited’s shares will be listed on the Victoria Falls Stock Exchange Limited (VFEX) effective 26 October this year.

Seed Co International, and PPC were suspended from the ZSE amid concern that the companies have been manipulating the country’s exchange rate on the parallel market.Old Mutual

“Seed Co International becomes the first issuer to list on the Main Board of VFEX,” Seed Co International Limited group chief executive officer Morgan Nzwere and ZSE chief executive officer Justin Bgoni said in a joint statement.

Seed Co International will trade under the symbol: SCIL.VX.

Meanwhile, the local bourse announced the termination of listing of Seed Co International effective this coming Friday.

“As required by Section 64 (a) (i) of the Securities and Exchange Act [Cap24.25], the ZSE sought and was granted permission by the Securities and Exchange Commission of Zimbabwe (“SECZ”) to delist Seed Co International from the ZSE’s official list,” reads the joint statement.

“In terms of Section 1.18 (d) of the ZSE Listing Requirements, holders of Seed Co International’s securities are hereby advised that the securities can no longer be traded on the ZSE with effect from 23 October 2020. Seed Co International’s securities will be listed on the Victoria Falls Stock Exchange Limited on 25 October 2020.”

Also said: “Seed Co International’s securities will be listed on the Victoria Falls Stock Exchange Limited on 25 October 2020.”

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