|The Zimbabwe Stock Exchange (ZSE) will lift a trading suspension on agro-industrial dealer CFI Holdings next Monday after it has managed to resolve some of the listing requirements, it said on Friday.|
The ZSE suspended trading in the CFI’s stock in January 2018, saying it had failed to comply with the free float requirements and some corporate governance related matters under the ZSE Listing Requirements.
Justin Bgoni, ZSE chief executive officer said trading in the securities of CFI will commence on Monday, 11 October 2021.
“The ZSE is satisfied that CFI has regularised its corporate governance shortcomings as required under the listing requirements,” he said.
“Whilst the issue of the free float remains unresolved, the ZSE has given CFI a moratorium of five years to address the free float requirements.”
He said the local bourse will be reviewing progress on regularisation of this requirement on an annual basis.
During the subsistence of its suspension, CFI demonstrated commitment to its listing on the ZSE by ensuring timely compliance with its continuing listing obligations and reporting cycles, he added.
While the Covid-19 pandemic is expected to remain ongoing, CFI expects an improved business outturn overall for FY2021, due to the implementation of the more flexible lockdown measures compared to prior year – Harare