Old Mutual top Ten ETF delists from ZSE

Rutendo Mazhindu 

Zim Now Writer 

The Old Mutual Top Ten Exchange Traded Fund has been delisted from the Zimbabwe Stock Exchange with effect from January 17, 2025.

The delisting follows a decision by the unitholders of the ETF to voluntarily terminate the fund's listing on the ZSE, as per Section 11 of the ZSE Listing Requirements.

In a statement issued by the ZSE, it was revealed on Tuesday that the unitholders met on December 12, 2024, and resolved to terminate the ETF's listing.

The ZSE subsequently applied for permission to delist the fund from the Securities and Exchange Commission of Zimbabwe, which was granted.

As a result of the delisting, units of the Old Mutual Top Ten ETF can no longer be traded on the ZSE. The fund will now be dissolved, and its assets will be distributed to the unitholders as outlined in a circular issued to them and in accordance with the resolution passed at the fund's extraordinary general meeting.

"The Zimbabwe Stock Exchange Limited hereby notifies the investing public of the voluntary termination of the listing of the Old Mutual Top Ten Exchange Traded Fund, effective January 17, 2025," stated Justin Bgoni, Chief Executive Officer of the ZSE.