Axia joins migration from ZSE to VFEX

Axia Corporation Limited is set to be the latest firm to delist from the Zimbabwe Stock Exchange in order to join the Victoria Falls Stock Exchange (VFEX).

In a statement, “The Directors of Axia Corporation Limited wishes to advise all shareholders and the investing public that the board has approved the delisting of the company from the ZSE immediately followed by its listing on the VFEX.

ACL’s three operating business units are TV Sales and Home, Transerv and Distribution Goods Africa.

"Further details of the transaction will be provided to shareholders once all regulatory processes have been finalised. Shareholders are advised to exercise caution and consult their professional advisers when trading in the company’s shares,” reads the statement.

ACL Chairperson Luke Ngwerume said the group’s management will continue to optimally manage gearing levels, with focus on the amount and cost of debt deployed across the Group.

“New stores will be added to the current network whilst optimising major distribution agencies in the country,” Ngwerume said.

Axia Corporation Limited will join Bindura Nickel Company, Caeldonia, Padenga, Seed-Co International, Simbisa Brands on VFEX.

VFEX is a subsidiary of ZSE Quoted in foreign currency which was established to become a regional offshore financial services centre.