ZSE rebases bourse to reflect ZiG

THE Zimbabwe Stock Exchange (ZSE) is re-basing all its indices following the introduction of a new currency, Zimbabwe Gold (ZiG), last week.

ZSE said all the ZSE indices would be re-based to 100 basis points.

“The re-basing is necessary to allow the indices to accurately reflect the performance of the market in the context of the new currency ZiG,” the bourse said.

ZSE has also revalued the Zimbabwe dollar-listed stocks into ZiG, in line with announcements made in the 2024 Monetary Policy Statement.

Following the release of the new monetary policy measures, ZSE revalued all the listed stock converting the market capitalisation of ZWL$73 517 828 598 027 to ZiG29 422 146 148.833. The conversion was based on yesterday’s exchange rate of ZiG1:ZWL$2 498.7242.

With this conversion, British American Tobacco Zimbabwe has the highest price at ZiG2 601,305 per share followed Delta Corporation Limited (ZiG680,3761), Cafca Limited (ZiG621.3121), and CBZ Holdings (ZiG396,728).

“The trading adjustments on the ZSE will be converted at the initial conversion exchange rate of ZiG1 to ZW$2498.7242 which is prescribed in the operational manual for structured currency issued by the RBZ on 5 April 2024,” ZSE said yesterday.

The bourse said the opening trading price for all share would now be denominated in ZiG, with opening prices for the trading session effective April 8, reflecting the ZiG currency.

“For ease of reference, all prices will be shown in ZiG cents (ZiG price multiplied by 100). The price sheets for all ZSE boards, namely the Equity Board, REIT Board and ETF Board will be available and distributed in ZiG currency going forward,” ZSE said.

“As stated above, for ease of reference, all prices will be shown in ZiG cents (ZiG price multiplied by 100). All daily market reports of the ZSE will now be presented in the ZiG currency,” the bourse said

ZSE said all outstanding local currency settlements as at April 5 would be payable in ZiG and converted at the initial conversion exchange rate of ZiG1 to ZWL$2 498,7242 which is prescribed in the operational manual for structured currency issued by the RBZ on Friday.

ZSE said that all future settlements from April 11 would now be in the new currency.