Negotiations with two firms seeking to float multi-million dollar tradable bonds on the Zimbabwe Stock Exchange (ZSE) are now at an advanced stage.
The finalisation of the negotiations will bring to five fixed income instruments to be listed on local bourse, following successful ventures undertaken by the Infrastructure Development Bank of Zimbabwe (IDBZ), Getbucks and the latest, Untu Bonds, all listed on the Financial Exchange Securities (FINSEC) last year.
FINSEC CEO, Mr Collen Tapfimaneyi said with a number of products lined up to boost the attractiveness of the equities market, the listing authority is optimistic of sealing this deal in the medium term.
The principal reason for the listing of the bonds is to broaden market participation in the trading of the bonds to stock broking firms, custodians and qualifying individuals and institutional investors.
Zimbabwe is following on the Kenyan model that has transformed operations on the Nairobi Stock Exchange after the launch of the country’s first mobile trading platform last year.
FINSEC is the second securities exchange in Zimbabwe and the first alternative trading platform (ATP).