The Financial Securities Exchange (Private) Limited (FINSEC) has announced that Old Mutual Zimbabwe shares can now be bought and sold by non-indigenous investors after all restrictions were removed. In a statement, FINSEC said
Financial Securities Exchange (Private) Limited (FINSEC) would like to advise all capital market participants, the investing public and other stakeholders that Old Mutual Zimbabwe Limited (OMZIL) B Class Shares can now be bought and sold by non-indigenous investors.
This follows a decision made by Old Mutual Zimbabwe Limited to remove the restriction on the trading of OMZIL B Class Shares listed on the Financial Securities Exchange. The Old Mutual Zimbabwe Limited decision was in response to amendments to the Indigenisation and Economic Empowerment Act (Chapter 14:33).
Old Mutual Zimbabwe B Class Shares will, therefore, migrate from the Empowerment Segment of the FINSEC Equities Trading Board to the FINSEC Main Equities Trading Board with immediate effect. Investors are advised to contact their brokers or financial advisors if they need further advice on the matter.