Munyukwi last raised the champagne glass two years ago when Padenga listed. The ZSE, a rather laid-back market in terms of business activity and deals, could end a listing drought through TN Bank.
According to sources, TN Bank hopes to list by May, once the demerging process is completed. Before Padenga listed in November 2010, TN Financial Holdings had reversed listed Tedco Ltd in January.
All other rumoured listings such as Imara Capital Holdings, a Pan-African investment banking and asset management group, Telecel Zimbabwe, LonZim and a little-known Aquiver Wireless, have come to naught, at least for now.
Another surprise might be the bounce-back of Kingdom Financial Holdings Ltd (KFHL) on the market after securing an investor — AfriAsia. But analysts say KFHL founder Nigel Chanakira is looking elsewhere to list before coming back to the ZSE. He is said to be looking at possible listings on the JSE or Mauritius.
Analysts do not see new listings after TN Bank who are largely driven by the need to unlock value for shareholders.
— Staff Writer.