FHML lifts ZSE turnover
HARARE, Insurer, First Mutual Holdings was among Wednesday’s top performers on the Zimbabwe Stock Exchange (ZSE), after trading $35,9 million worth of shares. This saw turnover for the day reaching
$88,7 million from 8,1 million shares, supported also by a good trade values in Delta which traded $24,6 million. The All Share Index was down 0,88 percent to close at 2,451,05 points and Top Ten Index were down by 0,45 percent to end at 1,505,66 points. The Mining Index gained 32.19 points. The Market breadth was bullish with 16 advancers and 12 decliners. Leading the gainers was Mashonaland following a 14 percent surge whilst the biggest loser was First Mutual Properties after a 16,67 percent loss. There were no trades on the VFEX. Imara Capital.
SEED Co International (SCIL) offers to acquire Seed Co Limited shares where shareholders will received one new SCIL share for every 0.98 shares they hold in Seed Co. The share swap ratio represents a 5% premium on the average 30-day and 60-day VWAPs of both companies on June 26, 2020. The offer will be in three stages; Primary Offer, which will entail the acceptances of the offer of 35% of the issued shares in order to constitute a control block, Secondary Offer includes the invoking of the takeover provisions of the ZSE Listings Requirements. The Secondary Offer will be open for 30 days while the third stage, the Drag-along acquisition entails that SCIL acquires all the remaining Seed Co shareholders if at least 90% of the shareholders accept the Secondary Offer. The Primary Offer opens on Wednesday January 13, 2021 and closes on Wednesday February 3,