CFI returns to ZSE, but no sellers yet

Agro-industrial concern, CFI started trading on the Zimbabwe Stock Exchange yesterday with indications of strong appetite for the group’s shares but no trades were recorded as there were no sellers available.

During the trading period bids ranged from 10 cents to a high of as much as 40 cents.

However, the bid price of 13.05 cents had the largest bid volume of up to 200 000 for the CFI shares.
The return to the bourse follows CFI’s 3 years 9 months (from January 2, 2018) suspension from trading after the group failed to comply with free float requirements and other corporate governance-related matters under the ZSE listing requirements.

“The ZSE is satisfied that CFI has regularised its corporate governance shortcomings as required under the listing requirements. Trading in the securities of CFI will commence on Monday 11 October 2021,” announced the ZSE chief executive Justin Bgoni in a statement last week.

Meanwhile the ZSE remained bullish at the start of the week, with the All Share Index closing 2,14 percent firmer at 9 774.81.

Heavyweight counters as represented by the ZSE Top 10 Index were the most favoured with the index gaining 2,59 percent to close at 5 880.80 Simbisa Brands which recently announced plans to open 92 new branches across Africa
was the top riser with a 12,33 percent gain to 9000,05 cents.

The market was however not short of fallers with brick maker Willdale being the biggest loser after it dropped 4,42 percent to 419,97 cents.

More than $937,7 million had been invested into shares by the close of trading yesterday.-ebusinessweekly.co.zw