Local investor grabs 2% of PGI

But the bourse still closed in the red. The Industrial Index came off 0.73 points to close at 165.19 points during the period under review. Stockbrokers confirmed that a secret punter snapped up a huge stake in manufacturing concern PGI. As a result of this special bargain volumes traded on the ZSE doubled to 28 million on Wednesday.
PGI, a building and allied concern on the bourse, has a market capitalisation of $11 million. It share price stood at between 1c and 2c before the special bargain which was snapped up by the secret punter. As a result foreign inflows and outflows tumbled by -69 percent and -65 percent to $421 712 and $442 293, respectively. Tobacco giant, BAT retreated 10c to 170c, wealthy Meikles Africa dipped 2c to close at 41c and beverages concern Delta eased 1c to trade at 79c.
Construction entity Murray & Roberts slipped 0,50c to settle at 17c and insurance firm Pearl was 0,30c lower at 2,60c.
High flyers for the period included Radar Limited owned by the Schofield family which went up 3c, PGI up by 2,3c, cable manufacturer CAFCA Limited 2c, and major foods producer and new giant on the local market Innscor Corporation Limited also up by 0,9c.
The South African-controlled company is embarking on a nationwide refurbishment programme, sprucing up its food outlets which had become an eye-sore for customers. Another top player on the ZSE this week was Powerspeed Limited, which shot up by 0,4c. The Mining Index lost 3.88 points during the week to close at 199.23 points after Hwange Colliery Company dropped 2c to trade at 68c. The other major players were unchanged.