Zimbabwe's largest and oldest food manufacturer, National Foods Holdings Ltd., has announced its decision to delist from the Victoria Falls Stock Exchange (VFEX), which operates exclusively in US dollars.
The company will transition to a private entity, citing a lack of immediate need for capital from equity markets as the primary reason for this move.
In a circular released on Wednesday, National Foods Holdings indicated that the advantages of maintaining a VFEX listing have diminished, as it does not foresee raising capital in the near term.
This marks a significant shift for the firm, which has been a prominent player in Zimbabwe's food industry.