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FILE - For illustration purposes only. [File photo: Evidencias]
The Mozambique Stock Exchange (BVM) has admitted three more companies to its Third Market-so bringing to seven the total number of shares listed in this alternative segment – which has less onerous requirements for the companies that list securities there – the institution announced on Tuesday.
In a statement, the BVM recalls that the Third Market – which was created in November 2019 – is an “alternative” stock market to the official Quotation Market and the “second market” – which since 2020 has been the one for seven of the eight shares of companies listed on the exchange.
“Proving that it is a stock market calibrated for the majority of Mozambican companies, which are SMEs,” the institution recalls of these small and medium-sized enterprises. “Currently, BVM has 16 listed companies.”
This expansion of the stock exchange’s Third Market took place on 29 December, with the admission of shares in Zaya Group, whose main business is company management, business and management consultancy, general commerce and the provision of services.
Based in Maputo, Zaya Group also operates in the agro-industry sector, with particular emphasis on the production and marketing of processed chicken and its derivatives. In this operation, 2 million shares in Zaya Group were admitted to the Third Market – representing 100 per cent of the company’s share capital, corresponding to a value of 2 million meticais (€28,600).
The same operation saw the admission to the Third Market of Trassus, a company based in Maputo dedicated to the general wholesale and retail trade of furniture, including its import and export, as well as the provision of services in various areas. The total face value of its securities listed was 2 million meticais, representing 100% of the company’s share capital, corresponding to 20,000 ordinary, registered and book-entry shares.
The third new listing on the Third Market is of RGS AGRO, a company with its head office in Maputo whose object is to invest in sugar manufacturing, the refining of sugar and derivative products, ethanol and fertiliser production, and the distribution of sugar, energy and derivative and related products.
In its case, the total amount of securities admitted is 5 million meticais (€71,500), also representing 100% of the company’s share capital.
With the listing of these three companies, the Third Market now has seven shares listed on it, namely REVIMO, 2 Bussiness, Paytech, Mozambique Weiyue Internacional (MWIH), and now Zaya Group, Trassus and RGS AGRO.
The total market capitalisation of securities listed on the Third Market was 164.290 billion meticais (€2.357 billion) at the end of December 2022 and by the end of 2023 this had swelled to 183.989 billion meticais (€2.638 billion).
As a whole, the Mozambican stock exchange during 2023 saw trading in 224,390,480 Treasury bonds, worth 21.934 billion meticais (€314.6 million), and 3,868,588 corporate bonds, worth 397.3 million meticais (€5.7 million). According to the institution’s data, BVM also traded 7,563,009 shares and 660,360 commercial paper securities.
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