Foreign Investors Acquire 12,3% Of National Foods

A total of 8 021 779 shares went through as a special bargain at 146c in a deal worth US$11 711 797 while normal trades went through at 80c.

Natfoods, which is an associate company in the Innscor Corporation Limited family has only 64 004 108 shares listed, the bulk of which are controlled by Innscor and South African food processing and packaging giant, Tiger Brands.

Turnover ballooned to US$13 million up from US$1,155 million yesterday while 15,9 million shares exchanged.

Foreign investors accounted for 97 percent of turnover with inflows worth US$12 641 192.

The ZSE’s Industrial Index closed the week +0,25 percent firmer at 143.79 points on gains in Econet Wireless Zimbabwe Holdings Limited (+1,08 percent), Delta Corporation Limited (+2,27 percent), Hippo Valley Estates Limited (+0,61 percent) and Old Mutual Holdings Limited (+0,38 percent).

On a week-on-week basis the Industrial Index is, however, -2,12 percent lower having opened the week at 146.91 points.

Micro cap counters dominated losers led by Celsys Holdings Limited which eased -25 percent to 0,03c, Interfresh Holdings Limited (-22,22 percent), Starafrica Corporation Limited (-21 percent) while ZimRe Properties Investments Limited and ART Corporation Limited slipped -20 percent apiece to 1c and 0,4c, respectively.

The ZSE’s Mining Index closed the week -1,56 percent lower at 134.92 points weighed down by losses in Rio Zimbabwe Limited and Falcon Gold Zimbabwe Limited.

Mining giant RioZim touched a new 52-week low of 50c on selling pressure after declining -9,09 percent bringing Year-To-Date loss to -73,68 percent YTD.

Falgold slipped – 4 percent at 7,2c on thin volumes while Hwange Colliery Company Limited was mainly unchanged at 51c.