LonZim consider Zimbabwe listing
Sunday 30 August 2009
LonZim, the Aim-listed spin-off of pan-African conglomerate Lonrho, is mulling a secondary listing on the resurgent Zimbabwe Stock Exchange.
The company, which invests in Zimbabwean assets such as hotels and cash machines, is considering the move following the establishment of the Government of National Unity earlier this year, which has stabilised the economy after the hyperinflation of the Robert Mugabe-led regime.
Dave Lenigas, the executive chairman at both LonZim and Lonrho, said: "The economic climate is changing and the Zimbabwe Stock Exchange is up 255 per cent for the year with a market capitalisation of $3.7bn. On the basis of those factors, we are seriously considering, and are working with advisers, on a dual listing on the Zimbabwe Stock Exchange."
LonZim's principal stock exchange would still be the junior aim market, where the company is valued at around £10m. The company fought off an investor revolt last month led by AMB Capital, a South Africa-based shareholder.
- 1 I've been called an abusive and dangerous parent, when all I did was listen to my transgender child
- 2 Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
- 3 Sofyen Belamouadden murder: The inside story of a crime that horrified Britain
- 4 Company breaks open Apple Watch to discover what it says is 'planned obsolescence'
- 5 UK weather: Britain braced for snow to replace sun as arctic air mass moves in
Migrant crisis: Greek soldier saved 20 people singlehandedly off Rhodes beach
Russian hack of President Obama's emails worse than previously admitted
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
UK weather: Britain braced for snow to replace sun as arctic air mass moves in
Nepal earthquake: US Pastor Tony Miano sparks outcry by suggesting Nepalis should convert and not rebuild their 'pagan shrines'
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Migrant boat disaster: Ukip candidate mocks victims in sickening Twitter post
Nigel Farage wants the BBC to stop making programmes like Doctor Who, Strictly Come Dancing, and Top Gear
Global warming: Scientists say temperatures could rise by 6C by 2100 and call for action ahead of UN meeting in Paris
General Election 2015: Britain would become a 'communist dictatorship' under Ed Miliband and Nicola Sturgeon, claims wife of Michael Gove
iJobs Money & Business
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...
£24000 - £26000 per annum + benefits : Ashdown Group: A highly successful, glo...
£50000 - £55000 per annum: Ashdown Group: Business Analyst - Financial Service...
£18000 - £23000 per annum + OTE £45K: SThree: At SThree, we like to be differe...