Caps delisted from ZSE

Caps Holdings Limited has been delisted from the Zimbabwe Stock Exchange following huge losses.

The group said they had been facing numerous problems, mainly caused by the entrance of indigenous players to the pharmaceutical industry.

In an interview, a stockbroker said that delisting from the ZSE could be a "good idea for the Board members, but not necessarily shareholders".

"They are tired of not declaring a dividend, year in and year out," he said. "But this might not be a good idea for shareholders who have money stashed in the company."

He said, however, this was the Board's "way forward" because Caps was "struggling and had many of its assets stripped from it".

Caps were also unable to pay major suppliers and could actually have been black-listed and booted out of the ZSE. The Caps share price stood at 10c on the ZSE on Tuesday and 14 057 shares exchanged hands on that day awaiting delisting.

Ironically, the Caps share price stood at 20c on Monday, meaning that the percentage change was 50 percent for the pharmaceuticals concern, the highest nose-dive on the ZSE on that day.

Post published in: Business

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