Bulawayo - The countrys sole coal miner, Hwange Colliery Company Limited (HCCL) The company is also reviewing its listing on the London Stock Exchange. HCCL has a primary listing on the Zimbabwe Stock Exchange (ZSE) and secondary listing on the JSE and the London Stock Exchange (LSE). HCCL chief executive officer Fred Moyo said the company would switch its listing from the JSE main board to the newly launched Africa Board.
He said competing on the JSE was tough given the financial positions of the companies listed there hence the need to shift to a listing that would suit the needs of the company well. Moyo said HCCL was considering listing on the LSE junior market rather than the main bourse, but all this was subject to approval by the board. HCCL is in need of close to US$200 million for recapitalisation that Moyo said would be raised mainly through loans from banks.