Zimbabwe Stock Exchange lifts CFI suspension


0

The Zimbabwe Stock Exchange (ZSE) has lifted the suspension of CFI Holdings after the company complied with ZSE listing requirement to publish financial results.

CFI’s shares were suspended from trading on 29 January this year to allow for the publication of audited financial statements for the year ended 30 September 2015.

In addition, a trade in CFI shares during a closed period, which was executed on the ZSE and reported to the Securities and Exchange Commission of Zimbabwe, also contributed to the decision to suspend trading in CFI’s shares.

“The Zimbabwe Stock Exchange hereby notifies the investing public of the lifting of the suspension in the trading of shares of CFI Holdings Limited (CFI) with effect from 26 May 2016,” ZSE chief executive Alban Chirumesaid in a statement.

“On 13 May 2016, CFI’s audited financial statements for the year ended 30 September 2015 were published to comply with the ZSE Listings Requirements thus necessitating the lifting of the suspension.”

CFI has since dollarization experienced significant financial challenges largely caused by expensive borrowings, and the impact of ageing equipment and infrastructure on efficiencies and overheads, which are not adequately aligned to the low capacity utilisation at the firm.-The Source

 

Related stories:

CFI’s loss widens to $25 million

CFI retires CEO Kuipa

CFI suspended from Zimbabwe Stock Exchange

Fidelity seeks shareholder nod for $18 million land purchase deal with CFI

CFI in $18 million land sale to clear debt

 

(22 VIEWS)

Don't be shellfish... Please SHARETweet about this on Twitter
Twitter
Share on Facebook
Facebook
Share on LinkedIn
Linkedin
Email this to someone
email
Print this page
Print

Like it? Share with your friends!

0
Charles Rukuni
The Insider is a political and business bulletin about Zimbabwe, edited by Charles Rukuni. Founded in 1990, it was a printed 12-page subscription only newsletter until 2003 when Zimbabwe's hyper-inflation made it impossible to continue printing.

0 Comments

Your email address will not be published. Required fields are marked *