THE amount of nominal value of share held by Old Mutual Zimbabwe’s shareholders on the Zimbabwe Stock Exchange is likely to further dwindle in the outlook as the shareholders move to sell their shares on the giant insurer’s alternative listings. Following the Reserve Bank of Zimbabwe (RBZ)’s approval for the increase in fungibility limits from 40 percent to 49 percent for Old Mutual Plc’s last month, the company has just announced a decline in its shares in issue on the local bourse.

THE Zimbabwe Stock Exchange (ZSE) has effectively completed its demutualisation exercise after it held its first meeting as a private company last Friday. However, it reported a US$1,1 million loss for the full year to December 2015 compared to a profit of US$300 000 in prior comparative period owing to weak trades.

The Zimbabwe Stock Exchange has set a minimum amount of $1 million for institutions who want to raise capital through the issuance of debt securities. According to the debt listing rules which are currently awaiting gazetting after they were approved by the Securities and Exchange Commission in mid-June, applicants for listing debt securities must have the intention of raising at least $1 million, in full, through issuance of securities of at least one-year tenure.The rules reflect, inter alia, the rules and procedures governing new applications and the on-going obligations of Issuers, and are aimed at providing investor confidence via an orderly, secure, efficient and transparent financial market.

THE Zimbabwe Stock Exchange (ZSE) on Tuesday plunged to its lowest levels since April 2009 after the benchmark industrial index closed at 95,08 mirroring the country's floundering economy.