ZSE in talks to acquire entire shareholding in Chengetedzai: sources  

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markets news zimbabwe

HARARE – (FinX) The Zimbabwe Stock Exchange is in talks to acquire the entire shareholding of securities depository company, Chengetedzai.

Chengetedzai Depository Company was formed to establish and operate a central securities depository for the Zimbabwe securities industry after winning the tender in 2010.

Government, through its quasi-fiscal entities is the largest shareholder.

Well-placed sources told this publication that ZSE, which already holds a stake in the company, that negotiations to acquire the entire shareholding were progressing.

In a cautionary announcement, the ZSE said it was contemplating a transaction, which if successfully concluded, may have a significant impact on the company’s share price.

“Accordingly shareholders are advised to exercise caution when dealing in the company’s securities until a further announcement is made.”

Efforts to get a comment from ZSE CE Justin Bgoni were futile as his phone rang unanswered.

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