According to statistics from the Zimbabwe Stock Exchange (ZSE), over 900 million dollars in shareholder value went up in smoke from January to last week as liquidity constraints and uncertainty caused by the governments controversial Indiginisation and Empowerment law.
The applicant ZB Stockbrokers is hereby placed in provincial liquidation pending the granting of an order, a notice by the Registrar of courts said.
Any interested party may appear before this court sitting at Harare on the 28 th day of July 2010 to show cause why a final order and should not be made for liquidation of the applicant, and an order that the costs of these proceedings be costs in liquidation.
The application comes at a time when the ZSE, market capitalisation has gone down to US$3,034 billion from a high of US$3,972 billion on January 29.
The local bourse is mostly driven by foreigners, but since the Indigenisation law was promulgated the later have taken flight. ZimOnline.
Post published in: News