Loading

Zambia: Bourse to halt for week

November 22 2012 at 08:00am
By Bloomberg

Comment on this story

The Lusaka Stock Exchange would suspend trading for as long as 10 days as it prepared for Zambia’s currency rebasing, chief executive Beatrice Nkanza said yesterday. “At some point we’ll have to suspend trading” to allow for settling in, she said. “We would also like to have a bit of time to test our systems.” The currency rebasing would remove three zeros from the kwacha and would come into effect on January 1, the Bank of Zambia said in August. Trading on the exchange would probably be halted for seven to 10 days before December 31, Nkanza said. The board would make a decision soon on how long the suspension would last. The Lusaka bourse was seeking new listings next year, having failed to attract any this year, she added. A mining company would list depositary receipts on the bourse early next year, she said, declining to name the firm. “We are likely to see more and more mining companies going the depository receipt route,” Nkanza said. – Bloomberg


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw
Sudoku