Tanganda Tea Company Limited, the biggest producer, packer and distributor of tea merchandise in Zimbabwe, has introduced proposals to boost US$7.7 million and relocate its itemizing from the Zimbabwe Stock Exchange (ZSE) to the Victoria Falls Stock Exchange (VFEX).

The firm has issued a cautionary announcement relating to potential transactions impacting its share worth. The firm’s administrators are negotiating proposals for an Extraordinary General Meeting.

Shareholders and buyers are suggested that discussions are underway relating to two important transactions.

Tanganda Tea Company could migrate its itemizing from the ZSE to the VFEX and undertake a capital increase by a renounceable rights provide, looking for roughly US$7.7 million.

The firm has urged shareholders to train warning when buying and selling its shares, as these transactions could materially have an effect on the share worth.

“A capital increase by means of a Renounceable Rights Offer to boost circa Seven million seven hundred thousand United States Dollars (US$7.7 million) collectively (‘the Transactions’).

“Further particulars relating to the Transactions will likely be offered in a Circular to shareholders that’s being finalised.

“The Transactions, if successful, may have a material effect on the Company’s share price. Accordingly, Shareholders are advised to exercise caution when dealing in the Company’s shares,” the corporate said in a cautionary assertion.

Owned by Meikles Limited, Tanganda Tea Company is the largest distributor of bulk tea and packaged tea. It additionally produces bottled spring water generally known as Tinga Mira. Tanganda Tea Company additionally has estates rising avocados and macadamia nuts.

The Victoria Falls bourse has attracted corporations with attractive incentives, resembling tax-free capital good points and seamless fund repatriation from Zimbabwe.

BridgeFort Capital, beforehand generally known as Medtech Holdings, has additionally introduced plans to switch its Class A and Class B shares to VFEX through an introduction itemizing.

Listing by introduction permits shares already traded on one other change to be listed, eliminating the necessity for advertising efforts since these shares are extensively held.