Zimbabwe: RBZ Suspends Fungibility of Shares

23 May 2008

By Victoria Ruzvidzo And Happiness Zengeni

Harare — The Reserve Bank of Zimbabwe has, with immediate effect, suspended indefinitely the fungibility of shares for all dually listed companies.

This effectively means that it is no longer permissible for shareholders to locally buy shares of dually listed companies and dispose them in offshore markets for foreign currency as had become prevalent.

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