VFEX commences branding, announces market participants

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  • 17 stockbrokers approved for VFEX trading
  • VFEX commences branding with a new logo
  • Trading set to resume before end of October

Harare – The Victoria Falls Stock Exchange (VFEX) has released a list of approved market participants ahead of the bourse’s official opening.

The VFEX is a USD denominated stock exchange created out of the need to attract foreign capital and hard currency funding for local entities, mainly those involved in the extractive sectors.

The bourse will also accommodate dual listed counters, which will be effectively dropped from the Zimbabwe Stock Exchange (ZSE) after almost 4 months of suspension. The bourse will however, be operated by the ZSE.

On branded material, showing the new blue and grey logo, which was themed in line with ZSE’s own logo of animated Great Zimbabwe ruins pattern, the bourse listed 17 Securities dealers, 13 of which re-features as  Sponsoring Brokers, 5 Custodial Service, 3 Transfer Secretaries and Non Member institutions as registered participants to the new bourse.

The 17 Stockbroking Firms completes the entire list of current participants on the Zimbabwe Stock Exchange. Analyst at Equity Axis, Tinashe Duma said the whole list of approved market participants on the VFEX are also participants on the ZSE main board.

He said this is necessitated by the nature of services required in capital markets, which entails specialised expertise offered only by these set of dealers.

The VFEX is set to officially open on the 23rd before commencing trading on the 26th of October. The bourse is yet to announce the companies which prospecting to list on the bourse except for the 3 dually counters Old Mutual Limited, PPC and SeedCo International which were suspended earlier from the ZSE main board.

Individual companies including LSE AIM listed Caledonia and ASX listed Prospect Resources are some of the companies which have independently pronounced their intentions or consideration for a dual listing on the local USD denominated bourse.

EQUITY AXIS NEWS

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