THE listing of Zimplow Holdings on the Victoria Falls Stock Exchange (VFEX) is a clear sign of the exchange's potential for expansion, the bourse’s chairperson Caroline Sandura has said.
“The listing of Zimplow on VFEX represents a significant step in the company's growth trajectory and we are excited to see how Zimplow will continue to contribute to the growth and development of Zimbabwe's economy,” she said while officially listing the company on Friday in Victoria Falls.
“The listing of Zimplow is a clear indication of the growth prospects potential of our exchange. We will continue to be innovative and introduce different securities that aid in deepening our market.
“The VFEX team is working tirelessly on new listings and diversifying products and services in order to create value for all participants, stakeholders and investors at large.”
Zimplow became the 14th counter to list on the bourse.
It joined Padenga Holdings, Bindura Nickel Corporation, National Foods Limited, Simbisa Brands, African Sun, Axia Corporation, Caledonia Mining Corporation, Innscor Africa, National Foods Holdings, Seed Co International, First Capital Bank, Nedbank, Karo and West Property Holdings.
Sandura said VFEX had a critical role to play in promoting investment and economic growth in Zimbabwe, adding that she was confident that the listing of Zimplow would help the bourse attain this goal.
Zimplow has a diversified portfolio of business units that provide engineering solutions and after sale services to companies carrying on business within the country’s key economic enablers, namely agriculture, mining, construction, logistics and automotive sectors.
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Zimplow chairperson, Godfrey Manhambara said the groups' VFEX listing was a chance for the firm to expand its footprint in these sectors and also attract reputable foreign investors.
“The migration to the VFEX is an opportunity for the group to demonstrate its performance in the critical sectors of the economy, that is, agriculture, mining, infrastructure and logistics,” Manhambara said.
Through the listing the group intends to embark on capital raising initiatives in foreign currency to boost the group’s efforts to acquire new robust equipment.
The company also hopes to expand its market share and presence as a premier source of all-encompassing equipment solutions through a new cluster approach.
“The cluster approach enables the group to refine its product offering in order to meet the current and evolving needs of our esteemed client,” he said.
