HARARE – (FinX) The Zimbabwe Stock Exchange is in talks to acquire the entire shareholding of securities depository company, Chengetedzai.
Chengetedzai Depository Company was formed to establish and operate a central securities depository for the Zimbabwe securities industry after winning the tender in 2010.
Government, through its quasi-fiscal entities is the largest shareholder.
Well-placed sources told this publication that ZSE, which already holds a stake in the company, that negotiations to acquire the entire shareholding were progressing.
In a cautionary announcement, the ZSE said it was contemplating a transaction, which if successfully concluded, may have a significant impact on the company’s share price.
“Accordingly shareholders are advised to exercise caution when dealing in the company’s securities until a further announcement is made.”
Efforts to get a comment from ZSE CE Justin Bgoni were futile as his phone rang unanswered.
