CAPS impending delisting causes stir on ZSE

“Six counters traded in the negative on Tuesday led by pharmaceutical Group CAPS Holdings Limited that saw their share price nose-dive since the news was broken that they are mulling delisting from the ZSE,” said Phineas Mandaza, a senior stock market analyst at EFE Securities.
In Tuesday’s trade CAPS retreated 35,7 percent to $0,45 on the bourse.
Another analyst told The Zimbabwean that, as there “will be no shares traded on the ZSE post-delisting, people might want to offload their stake in the company”.
“It is difficult to determine value and to liquidate the investment that includes that stock in its portfolio,” said the analyst.
The delisting could result in shareholders dumping their shares to the majority bosses at CAPS Holdings.
“Majority shareholders advocating for the delisting could want to buy back shares held by others,” the broker said.
“Shareholders are already taking sides as far as dumping their stake in CAPS is concerned.”
CAPS is listed on the ZSE and has a market capitalisation of $2,7 million which is among the lowest on the bourse. Its share price has been falling and currently stands at $0,04.