Powerspeed in shock delisting plan

POWERSPEED Electrical Limited is the latest Zimbabwe Stock Exchange (ZSE)-listed firm to announce a shock exit plan, with directors telling shareholders in a detailed proposal that a continued presence on the bourse would drain vital resources.

Firms list on stock exchanges to raise capital.

But in Zimbabwe, a string of firms have either exited or are at various stages of de-listing because their share prices are either trading at a discount, or there is little trade in their stocks.

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