• Mon. Apr 15th, 2024

CBZ shares gains after issuing 13th cautionary statement


Feb 29, 2024 #CBZ Holdings

By Stephen Chandisareva

HARARE – CBZ Holdings shares gained by 3.93% on Wednesday after issuing the 13th cautionary statement relating to the process of securing the necessary regulatory clearance to move forward with purchasing a firm in the financial sector.

At close of trade, CBZ share price stood at $7,950.00.

In an effort to expand into a larger bank, the transaction is thought to be the acquisition of ZB Financial Holdings.

“The Company has sought and is in the process of obtaining the requisite regulatory approval to proceed with the acquisition which process, is at an advanced stage,” CBZ said in a cautionary statement to shareholders.

“The acquisition if successfully concluded, may have a material impact on the value of the Company’s shares, the full impact of which is currently being determined.”

In US dollar terms CBZ market cap stands at $343.58 million.

Meanwhile, the mainstream ZSE All Share Index gained 2.87% to close at 516,753.82 points.

Similarly, the market capitalisation increased by $1.06 trillion to close at $40.83 trillion.

The Top 10 Index gained 3.99% to close at 230,902.14 points.

EcoCash gained the most, up 14.62% to close at $609,63. Starafrica followed with a gain of 13.91% to close at $8,30. Delta was 6.67% higher at $8,263.95.

Tanganda garnered 5.06% to settle at $1,942.50. Nampak was the worst performer, down 10.91% to close at $445.45.

Econet plunged 2.43% to settle at $1,800.00. Meikles shed 0.85% to close at $2,452.49. Masimba succumbed 0.43% to finish at $2,983.12. ZHL fell 0.40% to $235.95 and completed the top five losers set.

OML ETF gained 1.5% to finish at $87,1602. Datvest ETF jumped 0.05% to close at $18.5000. Cass Saddle Agriculture ETF was the only faller, down 10.17% to close at $7.5900.

There were no trades recorded in other ETFs.

Tigere REIT lost 1.53% to close at $600,0102. Revitus was flat at $560.0000.

By ETimes

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