Seed producer, Seed Co Limited got off to a flying start this Monday upon resumption of trading on the Zimbabwe Stock Exchange (ZSE) after a four month hiatus as its share price swelled by 204.51 percentage points to close at ZWL$65.8006, 263Chat Business reports.
SeedCo had terminated trading on the ZSE in February this year to pursue a Victoria Falls Stock Exchange (VFEX) listing which subsequently failed after the Reserve Bank of Zimbabwe turned down the proposal which would have also seen the company merge with its Botswana Stock Exchange listed offspring, Seed Co International Limited (SCIL).
“The ZSE sought and was granted permission by the Securities and Exchange Commission of Zimbabwe to resume trading in the shares of Seed Co. Trading in Seed Co Limited shares on the ZSE will resume with effect from 21 June 2021,” the ZSE said.
However, on opening day yesterday Seed Co share price firmed from ZWL$ 21.6089 to ZWL$ 65.8006 riding on positive sentiments on the company’s prospects, making it the biggest gainer on the bourse.
Market watchers anticipate brighter prospects for the seed company with Zimbabwe’s agriculture sector poised for 11.3 percent growth in 2021.
