- December 19, 2023
- Posted by: ASEA
- Category: News
The Zimbabwe Stock Exchange Limited (“ZSE”) is pleased to announce the listing of the Revitus Property Opportunities Real Estate Investment Trust (“REIT”) on Monday 18 December 2023. The Revitus REIT becomes the second REIT to be listed on the ZSE. The trading in Revitus REIT securities will commence with effect from 20 December 2023.
In her welcome remarks, the ZSE Board Chairman, Mrs Caroline Sandura highlighted how the market has witnessed an increased interest in REITs, and how the ZSE has undertaken several initiatives to support the growth of REITs and deepen the capital markets. During her speech, Mrs Sandura applauded “the Minister of Finance, Economic Development and Investment Promotion, Honorable Professor Mthuli Ncube and his team for supporting the growth of the exchange through the addition of new products.”
On the listing of the Revitus REIT, the Guest of honour, the Minister of Finance, Economic Development and Investment Promotion, Honorable Professor Mthuli Ncube commented that “when the Government allowed for the setting up of REITs in Zimbabwe, the primary motivation was to allow pension funds who were over-exposed to the real estate asset class to use those properties to access liquidity from the capital markets and be in a position to pay member benefits timeously.” Honourable Professor Mthuli Ncube challenged all capital markets to market safer, regulated products as REITs to the wider public to forestall them losing their valuable savings through Ponzi schemes.
The Revitus REIT will trade under the symbol: Rev.zw and ISIN ZW 000 903 002 5
Investors wishing to invest in the Revitus REIT are advised to consult their stockbroker or financial advisor for further guidance. For any enquiries, email firstname.lastname@example.org