IDBZ initiates bonds listing

IDBZ initiates bonds listing
Published: 28 November 2017
The infrastructure Development Bank of Zimbabwe has begun the process of listing its $65 million bonds on the Financial Securities Exchange three years after mulling the idea.

The bonds, floated in 2014, were used to raise funding for the completion of prepaid electricity metering project and the refurbishment of Kariba South Power Station.

IDBZ yesterday said since the issuance of the bonds in November 2014, investors have continued to hold the instruments with no opportunity to trade them on the secondary market prior to maturity.

The principal reason for listing the bonds include broadening market participation in the trading of bonds to include stock broking firms, custodians and qualifying individuals and institutional investors.
- Daily News
Tags: IDBZ,


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