SeedCo International Acquires 35% Stake In Its Local Unit :

SeedCo International Acquires 35% Stake In Its Local Unit


By Alois Vinga
LISTED seed manufacturing giant, SeedCo International Limited (SCIL) has acquired a 35% stake in its local unit, SeedCo Limited in line with new plans to buy back all shares listed on the Zimbabwe Stock Exchange (ZSE).
Early this month, SCIL said the rationale for the offer was premised on a strategic response to the changes in the status of its secondary listing in Zimbabwe brought about by policy initiatives introduced by the government.
SCIL contends that transferring only one of the entities, SCIL, to the Victoria Falls-based VFEX trading only in US$ while leaving SCL on the ZSE trading in Zim$ will not protect value for shareholders.

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