A broker makes a bid at a morning trading session of the Zimbabwe Stock Exchange in the capital Harare. Picture: REUTERS
A broker makes a bid at a morning trading session of the Zimbabwe Stock Exchange in the capital Harare. Picture: REUTERS

Trading on the Zimbabwe Stock Exchange will resume on Monday, without three companies that have listings on foreign bourses.

Old Mutual and Seed International said in separate e-mailed statements that they would comply with an order issued by finance minister Mthuli Ncube that they suspend trading “pending finalisation of the modalities for their resumption to trade.”

The government wants to transfer the three companies’ listings onto a foreign-currency denominated exchange in the town of Victoria Falls, planned for opening later in 2020.

The three stocks account for a combined 4.9% member weighting in Harare’s main industrial index in Harare.

Old Mutual, the 175-year-old SA insurer, is the largest company by market value.

Bloomberg

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