{"id":28320,"date":"2020-09-30T21:53:42","date_gmt":"2020-09-30T19:53:42","guid":{"rendered":"https:\/\/www.africa-press.com\/zimbabwe\/?p=28320"},"modified":"2020-09-30T21:53:42","modified_gmt":"2020-09-30T19:53:42","slug":"foreigners-grab-their-chance-to-exit-zimbabwes-stock-market","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/foreigners-grab-their-chance-to-exit-zimbabwes-stock-market","title":{"rendered":"Foreigners Grab Their Chance to Exit Zimbabwe\u2019s Stock Market"},"content":{"rendered":"<p>(Bloomberg) &#8212; Foreign investors who had been stuck with their holdings in Zimbabwe stocks because of hard-currency shortages have latched onto dollar auctions to exit the market and repatriate funds.<\/p>\n<p>The government allowed stock trading to resume on Aug. 3 after a more than five-week halt, with the central bank also freeing up hard currency at weekly auctions to allow for dividend payments and divestments. Foreigners have since sold Z$4.2 billion ($52 million) worth of stocks, with buying amounting to just Z$120 million, according to data provided Wednesday by the exchange.<\/p>\n<p>\u201cThere has been pent-up demand from investors stuck here for a long time,\u201d Zimbabwe Stock Exchange Chief Executive Officer Justin Bgoni said by phone.<\/p>\n<p>The central bank started the auctions in June when a currency peg of 25:1 to the U.S. dollar was abandoned and has so far allocated more than $14 million for use by investors as dividend payments or to divest.<\/p>\n<p>\u201cForeigners are still net sellers and definitely responding positively to liquidity in the auction,\u201d said Lloyd Mlotshwa, the head of equities at Harare-based IH Securities. \u201cRepatriations are indeed taking place, so we should expect foreigners to remain sellers, as long as funds are flowing out.\u201d<\/p>\n<p>Read More: Zimbabwe in Talks With Banks to Support New Stock Exchange<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Foreign investors who had been stuck with their holdings in Zimbabwe stocks because of hard-currency shortages have latched onto dollar auctions to exit the market and repatriate funds. The government allowed stock trading to resume on Aug. 3 after a more than five-week halt, with the central bank also freeing up hard currency [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":19012,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[748],"class_list":{"0":"post-28320","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-zse"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Foreigners Grab Their Chance to Exit Zimbabwe\u2019s Stock Market - zimbabwe<\/title>\n<meta name=\"description\" content=\"(Bloomberg) -- Foreign investors who had been stuck with their holdings in Zimbabwe stocks because of hard-currency\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/foreigners-grab-their-chance-to-exit-zimbabwes-stock-market\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Foreigners Grab Their Chance to Exit Zimbabwe\u2019s Stock Market\" \/>\n<meta property=\"og:description\" content=\"(Bloomberg) -- Foreign investors who had been stuck with their holdings in Zimbabwe stocks because of hard-currency\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/foreigners-grab-their-chance-to-exit-zimbabwes-stock-market\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-30T19:53:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2020\/02\/ZSE-Logo1-600x600-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/foreigners-grab-their-chance-to-exit-zimbabwes-stock-market\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/foreigners-grab-their-chance-to-exit-zimbabwes-stock-market\",\"name\":\"Foreigners Grab Their Chance to Exit Zimbabwe\u2019s Stock Market - 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