Business / Companies
ZSE shares stutter at week's opening as Zimplow new shares commence trading
11 Mar 2013 at 08:08hrs | Views
ZSE shares faltered in Monday morning trades as Zimplow Holdings new shares commenced trading on the ZSE.
Zimplow Holdings shares added 1c to 4.5c on a volume of 1 136 353 shares. This follows the issuing of 62.25 million shares in lieu of Tractive Power Holdings shares. Tractive has been delisted with effect from today.
Zimplow also announced today results of the offer made by Zinplow to minority shareholders in Tractive where 33 744 947 Tractive shares were exchanged for cash out of the 66 206 418 shares held by minorities. 32 461 471 shares were exchanged for Zimplow shares.
The Industrials Index lost 0.98 points or 0.51% to dose at 189.98 largely weighed down by losses in Econet
Total market turnover improved slightly to $939 285 on a volume of 11.17 million shares compared with $676 774 on 5.139 million shares that traded on Friday.
Telecoms counter Econet continued to trade lower after losing a further 3c to 70c as investors recoup profits made post the 10 for 1 share split.
Other notable losers were Edgars, 0.11c weaker at 11 c ahead of its interims and analysts briefing on Wednesday. NicozDiamond eased 0.10c to 1c. TA Holdings was 1c weaker at 8c while ZBFH lost 1c to 8c.
In Minings, RioZim lost 5c or 10% to 45c resulting in the Minings Index losing 1.96 points or 2.80% to 68.12 trimming its year to date gains to just 4.61 %.
On the upside, Afdis advanced 0.40c to 21.5c while African Sun was 0.20 firmer at 1.6c. Fidelity Life added 0.50c to 14a
Heavyweights Delta and Innscor remained stable at 121c and 90c respectively while notable trades were recorded in FBC where about 6.9 million shares worth $552 000 traded.
Zimplow Holdings shares added 1c to 4.5c on a volume of 1 136 353 shares. This follows the issuing of 62.25 million shares in lieu of Tractive Power Holdings shares. Tractive has been delisted with effect from today.
Zimplow also announced today results of the offer made by Zinplow to minority shareholders in Tractive where 33 744 947 Tractive shares were exchanged for cash out of the 66 206 418 shares held by minorities. 32 461 471 shares were exchanged for Zimplow shares.
The Industrials Index lost 0.98 points or 0.51% to dose at 189.98 largely weighed down by losses in Econet
Total market turnover improved slightly to $939 285 on a volume of 11.17 million shares compared with $676 774 on 5.139 million shares that traded on Friday.
Telecoms counter Econet continued to trade lower after losing a further 3c to 70c as investors recoup profits made post the 10 for 1 share split.
Other notable losers were Edgars, 0.11c weaker at 11 c ahead of its interims and analysts briefing on Wednesday. NicozDiamond eased 0.10c to 1c. TA Holdings was 1c weaker at 8c while ZBFH lost 1c to 8c.
In Minings, RioZim lost 5c or 10% to 45c resulting in the Minings Index losing 1.96 points or 2.80% to 68.12 trimming its year to date gains to just 4.61 %.
On the upside, Afdis advanced 0.40c to 21.5c while African Sun was 0.20 firmer at 1.6c. Fidelity Life added 0.50c to 14a
Heavyweights Delta and Innscor remained stable at 121c and 90c respectively while notable trades were recorded in FBC where about 6.9 million shares worth $552 000 traded.
Source - zfn
