African Sun delists from VFEX

Published: 1 hour ago

African Sun Limited has officially delisted from the Victoria Falls Stock Exchange (VFEX), marking a strategic transition to operate as an unlisted public company.

In a notice to shareholders, the group confirmed it had met all regulatory requirements for the voluntary termination of its listing, with trading in its shares ending on April 9 and the delisting taking effect on April 20, 2026.

"The company has fulfilled all regulatory requirements for the voluntary termination of its listing. The last day of trading on the VFEX was April 9, 2026, and the effective date of delisting was April 20, 2026," said company secretary and governance executive V.T. Musimbe.

The move follows shareholder approval at an extraordinary general meeting in March, alongside a share buyback offer aimed at consolidating ownership ahead of the exit.

African Sun said the repurchased shares will be processed in line with the Companies and Other Business Entities Act, with settlements beginning after the formal transfer of shares on April 20.

Post-delisting, the company will operate as a public unlisted entity, with plans to introduce an over-the-counter (OTC) trading platform for shareholders who did not participate in the buyback.

"African Sun will transition to a public unlisted company effective April 20, 2026. Shareholders who did not participate in the offer will be provided with details of an OTC trading platform in due course," the company said.

The development is significant for the VFEX, a foreign currency-denominated exchange established to attract offshore capital. Analysts say the exit could impact liquidity and test investor confidence as companies reassess the benefits of listing on the relatively young bourse.

African Sun, one of Zimbabwe's largest hospitality groups, operates a portfolio of key tourism assets, making its strategic repositioning one to watch within the sector.
- NewsDay