First Mutual Properties Limited has announced that it is evaluating a potential transaction to delist from the Zimbabwe Stock Exchange, a move that could affect the price of its securities.
In a cautionary statement to shareholders and the investing public, the property firm said it is currently engaged in negotiations and assessing a possible transaction that may lead to its exit from the local bourse.
“The Board of Directors of First Mutual Properties Limited wishes to advise shareholders and the investing public that the company is currently engaged in negotiations and/or evaluating a potential transaction to delist from the Zimbabwe Stock Exchange, the outcome of which may have an effect on the price of the company’s securities,” the company said.
The company stressed that discussions are still at an early stage and the potential transaction has not yet been finalised.
“The transaction is still at a preliminary stage and remains subject to the conclusion of negotiations, execution of definitive agreements, and the receipt of the necessary regulatory and shareholder approvals, where applicable,” the company said.
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Delisting from the exchange would mark a significant shift for the property investment firm, which has long been part of the local equities market and provides investors exposure to Zimbabwe’s commercial real estate sector.
However, the company said shareholders should remain cautious while negotiations continue and until further details are made public.
“Accordingly, shareholders and the investing public are advised to exercise caution when dealing in the company’s securities until a full announcement is made,” the statement said.
The company added that it will continue to update the market in line with regulatory requirements.
“The company will issue further announcements in compliance with the Zimbabwe Stock Exchange Listings Requirements as and when there are material developments,” it said.
If completed, the move would join a growing list of companies that have reassessed their presence on the local bourse amid evolving market conditions and corporate restructuring strategies.
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