- Bourse to introduce Odd Lot Board to ZSE direct
- This will allow trades of between 1 and 99 shares
- Minimum buy however remains ZW$500
Harare – The Zimbabwe Stock Exchange will from today (September 8, 2021) allow investors to buy as little as one share in any listed counter on the bourse in a bid to keep increasing financial inclusion in the local capital markets.
This will be achieved by the addition of an Odd Lot Board to the ZSE Direct share trading platform which is an online and mobile platform that enables users to view their CSD holdings and to buy and sell securities listed on the ZSE remotely.
It is meant to make accessing the market very simple for first-time investors and allow them to experience the full investment process of having their own stockbroking account and their own CSD account.
The addition of the Odd Lot Board on ZSE Direct means that all ZSE Direct clients can now place bids or offers for volumes from as little as one to 99 however, the minimum amount that can be spent remains ZW$500.
Traditionally and on the Regular Board, investors are allowed to buy a minimum of 100 shares for at least ZW$500.
The Odd Lot Board gives regular investors a shot at some of the ZSE’s high-priced stocks such as British America Tobacco (BAT) which is the bourse’s most valuable stock with a price of ZW$950 per share.
This initiative also follows the introduction of another feature on ZSE Direct called ZSE Direct Instant which was introduced in July and is meant to make it easier and much faster for investors to access proceeds from the disposal of their securities by crediting proceeds from a sell order straight into to the investor’s wallet rather than being transferred to their bank account.
Following the announcement of this news the ZSE experienced a pickup in demand with the All-Share Index gaining 0.67% to close yesterday’s trading at 6,645.03 points and recovering from prior session losses.
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