HARARE – The Zimbabwe Stock Exchange has introduced an odd lot board on its ZSE Direct trading platform, which will enable retail investors to purchase shares for volumes of 1 to 99. The previous minimum limit was 100 shares.
In a statement, chief executive Justin Bgoni said this was being done to increase financial inclusion as well as enhance the participation of retail investors on the platform.
According to the ZSE, the permissible trading quantity on the odd lot board is from 1 to 99. Volumes of 100 and multiples will continue to be traded on the regular board.
The minimum buy amount remains ZWL$500 but there is no minimum value on the sell side.
ZSE also said the transaction charges remain the same while the reference price for the odd lot board, will be the price set in the regular board and that the sell proceeds on odd lot orders will be credited to clients’ wallets on the same day after a successful matched and confirmed sell order.