Simbisa Brands seeking a listing on London's AIM market

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Published Jul 24, 2017

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Harare - Zimbabwe and sub-Saharan Africa focused fast foods operator,

Simbisa Brands - which holds franchises for Nando's, Chicken Inn, Steers and

Pizza Inn - is seeking a secondary listing on London's AIM market.

The board of Simbisa has now approved the move to a London

listing although this now awaits regulatory approvals.

“Shareholders are advised that the Simbisa Brands Limited

Board of Directors has approved, subject to Reserve Bank of Zimbabwe, other

regulatory approvals and shareholder’s approval, the application for a

secondary listing of Simbisa’ Ordinary Share Capital on the London Stock

Exchange Alternative Investments Markets (AIM) in order to access additional

funding for the Company’s expansion,” Simbisa Brands says in a cautionary on

Monday.

Read also:   Brait nixes plans to list on JSE 

Market watchers say they expect the regulatory approvals to

be secured. The company has earmarked expansion both inside and outside

Zimbabwe to boost its prospects.

Addington Chinake, the chairman of Simbisa Brands, has said

that “the combined revenue for the regional operations increased by 10percent

to $30.2 million” in the full year to December 2016. 

BUSINESS REPORT ONLINE 

 

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