Nyashadzashe Ndoro
Chief Reporter
Tanganda Tea Company Limited has shifted its plans from migrating entirely to the Victoria Falls Stock Exchange and now proposes a secondary listing through a new class of shares—Class A ordinary shares.
The company plans to raise US$8 million via a renounceable rights offer, following the listing and allotment of these new shares. The initiative aims to enhance the company’s capital structure, diversify shareholder options, and boost share liquidity.
“This capital raise will follow the issuance of Class A shares to existing shareholders proportionate to their holdings. Further details will be outlined in a shareholder circular under finalization,” Tanganda stated.
Shareholders have been cautioned about potential effects on the company’s share price as these transactions progress.
The VFEX, established in 2020, provides benefits like raising capital in foreign currency and a relaxed regulatory framework.
Philemon JambayaZim Now EditorIn an exclusive interview, Vimbai Rose, a talented musician based in the United Kingdom, opens up about her journey, her music, and the enduring legacy of her father, t..
ZimbabweRutendo MazhinduZim Now ReporterZimbabwe’s healthcare landscape has undergone a remarkable transformation over the last decade, driven by the ambitious Health Sector Development Project.Running from..
ZimbabweOscar J. JekeZim Now ReporterThe World Health Organization's 2024 World Malaria Report highlights remarkable progress in malaria control over the past two decades. Since 2000, enhanced prevention an..
Zimbabwe
Leave Comments