Business & Finance
Africa’s Top Insurer Returns to Zimbabwe Market After Six Years
Key Points
Africa’s Top Insurer Returns to Zimbabwe Market After Six Years Shares in Old Mutual Ltd. began trading on Zimbabwe’s dollar-denominated stock exchange, six years after they were suspended on the country’s main bourse to curb a currency rout. The shares debuted at 76 US cents apiece on the Victoria Falls Stock Exchange on Wednesday and advanced 2.9% to 78.17 cents by the close, valuing Africa’s largest insurer by assets at $51 million. In neighboring South Africa, where the company is based,...
Africa’s Top Insurer Returns to Zimbabwe Market After Six Years
Shares in Old Mutual Ltd. began trading on Zimbabwe’s dollar-denominated stock exchange, six years after they were suspended on the country’s main bourse to curb a currency rout.
The shares debuted at 76 US cents apiece on the Victoria Falls Stock Exchange on Wednesday and advanced 2.9% to 78.17 cents by the close, valuing Africa’s largest insurer by assets at $51 million. In neighboring South Africa, where the company is based, the stock closed at 12.56 rand ($0.78).