Published: 11 hours ago

British mining company Kavango Resources Plc has successfully completed its secondary listing on the Victoria Falls Stock Exchange (VFEX), expanding access for local investors. The listing follows the company's efforts to raise US$13.5 million to support its mining exploration initiatives in Zimbabwe, with US$4.5 million raised during the subscription period.

Kavango, which recently reported a high gold intercept of 11.79 grams per tonne at its Bill's Luck Gold Mine within the Hillside Gold Project, retained its primary listing on the London Stock Exchange (LSE). VFEX Head of Markets Robert Mubaiwa confirmed that Kavango securities commenced trading on September 8, 2025, with the introduction effective from September 5.

"The Victoria Falls Stock Exchange is pleased to announce the successful listing of Kavango Resources Plc by way of introduction," Mubaiwa said. "The VFEX listing serves as a secondary venue to broaden investor access, while the company maintains its primary LSE listing."

The VFEX listing allows Zimbabwean investors to hold Kavango ordinary shares locally, trade them on the VFEX, or transfer them to the LSE via the branch register control account, although direct trading on the LSE is not available without completing the necessary uplift procedures.

The secondary listing was supported by the issuance of 333,364,773 new ordinary shares, raising the total shares in issue to 3.38 billion. Key allocations included US$693,647 worth of shares to a consortium of local pension funds, US$2.59 million to Purebond Limited, US$18,503 to Zimbabwean retail investors, and US$290,968 in employee share awards distributed among 157 staff members.

The successful listing marks a significant milestone for Kavango, enhancing liquidity for its shares and enabling broader participation from Zimbabwean investors in its growing gold exploration ventures.
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