REGIONAL seed manufacturer, SeedCo Limited, says listing of its regional operations on the Botswana Stock Exchange (BSE) will be concluded in a month’s time, after shareholders approved the proposal.
The seed manufacturer will unbundle 71 percent of SeedCo International represented by 242 million ordinary shares. On completion of transaction, SeedCo Limited will retain 26 percent stake in SeedCo International. The group will also carry out a private placement on the Zimbabwe Stock Exchange (ZSE).
The All Share index recovered 0.10 points (0,09 percent) to close at 111.78 points. Old Mutual led the movers with a $0,0136 gain to close at $5,1027, Barclays added $0,0089 to close at $0,0691 and Nicoz Diamond settled at $0,0341 after gaining $0,0041. Innscor also increased by $0,0013 to $1,4144 and African Sun was $0,0010 higher at $0.0730.
On the downside Rio Zim eased $0,0670 to close at $1,4000, PPC lost $0,0475 to close at $1,1500 and NatFoods was $0,0030 lower at $5,6064. Other losses were in Hippo Valley which fell by $0,0025 to close at $1,6875 and Delta shed $0,0005 to trade at $1,9995.