PPC granted full fungibility
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Discovered: 2010-02-24 18:15:40 |
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Source: Zimbabwe Herald Online
| Business Reporter PPC has been granted full fungibility by the Exchange Control authorities of up to 40 percent of shares and local shareholders can now take and trade their shares on the Johannesburg Stock Exchange. The 40 percent limit on amount of shares that can be removed from the Zimbabwe register is simply meant to ensure that the local cement manufacture does not run dry of the stock. Fungibility affects counters that are dually listed or listed on more than one exchange. The granting of full fungibility means for the particular counter shares bought on one exchange can be moved and traded on another exchange. Ppc is listed on the Zimbabwe Stock Exchange and the JSE. The obvious major benefit of fungibility to shareholders is the ability to trade the same counter in more than one market and this brings with it some opportunities particularly arbitrage. With arbitrage trading, comes the benefit of price discovery in markets ... ... |
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