Zimbabwe: Facility for Locals to Buy Brainworks Shares On JSE

5 October 2017

Brainworks Capital is working on a facility with the Reserve Bank of Zimbabwe, which will allow Zimbabwean investors to buy shares of the company when it lists on the Johannesburg Stock Exchange, without the need to source for foreign currency.

Brainworks, which is set to become the first Zimbabwean company to have a primary listing on the JSE next week has interests in hospitality, logistics, real estate and financial services. The institutional offering of 27 523 396 ordinary shares at an offer price of R11,50 per share opened last week Thursday and will close on Monday October 9. Results of the offer will be released on or about Wednesday October 11, 2017 while the company will list on Friday, October 13.

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