Edgars Stores Limited bids farewell to ZSE, eyes n...

Edgars Stores Limited bids farewell to ZSE, eyes new life on VFEX

Nyashadzashe Ndoro

The Zimbabwe Stock Exchange announced a halt in trading for Edgars Stores Limited shares, effective Wednesday March 27, 2024.

This marks the final day investors can buy or sell Edgars shares on the ZSE.

The ZSE cites a shareholder-approved decision to delist Edgars and pursue a new listing on the Victoria Falls Stock Exchange. The official delisting requires authorisation from the Securities and Exchange Commission of Zimbabwe, which the ZSE has requested following last Friday's Extraordinary General Meeting.

A temporary halt on trading will be in place to facilitate the settlement process. If SECZIM grants approval, Edgars shares are expected to resume trading on the VFEX by April 8th, 2024.

"Pursuant to the company's Extraordinary General Meeting (EGM) held on Friday, 25 March 2024, the ZSE has requested authorisation from the Securities and Exchange Commission of Zimbabwe ("SECZIM") to delist Edgars Stores Limited from the ZSE and subsequently list it on VFEX.

"During the halt period, investors will not be able to buy or sell Edgars Stores Limited shares. Trading of the shares is expected to commence on VFEX on Monday, 08 April 2024 subject to SECZIM approval," ZSE said in a statement.

The move seemingly signifies a significant shift for Edgars, transitioning from the Zimbabwean dollar-denominated ZSE to the US dollar-denominated VFEX. The company seeks the stability and potentially wider investor base offered by the VFEX.