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Conrad Mwanawashe : Business Reporter

“Axia also becomes the third company to be listed from the Innscor stable through a dividend in specie after Padenga and Simbisa, which ZSE views as a vote of confidence from the group which has been on the ZSE’s official list over the years.” Axia Corporation listed on the Zimbabwe Stock Exchange yesterday with about 51 000 shares changing hands in first trades.Total turnover in the stock was at $3 835,05 from the trade of 51 134 shares at a price of $0,07,50.

This represented 1,76 percent of turnover of yesterday’s trades.

Axia, an Innscor Africa Limited associate company, is the fourth counter to be listed on the Zimbabwe Stock Exchange in the last 12 months.

ZSE chairperson Caroline Sandura said in a speech read on her behalf that the coming on board of Axia is significant for a couple of reasons from the bourse’s perspective.

“To date, the investing community which is continuously searching for new counters, will be pleased to note that Axia is the second listing for the ZSE in 2016. Axia also becomes the third company to be listed from the Innscor stable through a dividend in specie after Padenga and Simbisa, which ZSE views as a vote of confidence from the group which has been on the ZSE’s official list over the years,” said Ms Sandura.

“ZSE is therefore bullish about the future in these bearish times with the concerted efforts and goal congruence of key stakeholders such as the Ministry of Finance and Economic Development, the Reserve Bank of Zimbabwe, Securities Commission of Zimbabwe, CDC, Insurance and Pensions Commission, the issuers, the business community at large,” she said.

Axia Corporation operates in the specialty retail, distribution and logistics sectors through its three operating subsidiaries, Distribution Group Africa (50,01 percent), Innscor Credit retail t/a TV Sales and Home (66,67 percent) and Moregrow Enterprises t/a Transerv, each operating as independent profit centres.

Each business unit will have a dedicated management team.