DEAT Capital managing director Nick Moyo says the visit by a delegation from the London Stock Exchange (LSE) is a sign of confidence by international investors in the country’s investment potential.
The delegation from the LSE is expected in the country this week to assess business developments and assist local companies on how to raise offshore equity.
At least 150 high-level delegates including chief executive officers, regulators, legal firms and financial institutions are expected to attend the executive briefing this Friday.
“The visiting investment bankers that have strong track records of capital raising are very excited at the prospects of working and raising capital for Zimbabwe-focused countries, especially after a successful capital-raising exercise on Alternative Investment Market (AIM) last year by Masawara plc,” said Moyo.
Masawara, a Zimbabwe-focused investment fund led by entrepreneur Shingai Mutasa listed on London’s Alternative Investment Market in August last year raising about $25 million that it expects to use for further investments in the country and the sub -region.
Moyo said there would be extensive interactions with experts and financiers active on the world’s second largest market, LSE, which has a current market capitalisation of $3 trillion dollars. “We believe this is a massive boost for Zimbabwe’s economy and confidence,” said Moyo.
“The London Stock Exchange market is home to some of the world’s largest institutional and private investors.
“In the last five years over $90 billion has been raised on AIM for small emerging offers that are well-managed, robust but under-capitalised.”
The executive briefing is expected to provide locals with insights and opportunities of raising capital on London Stock Exchange markets.
Issues to be discussed include developing international capital, raising strategy on LSE and experiences of Zimbabwe-focused entities listed on the same market.
The visiting team is expected to give an overview of specialist securities, including exchange tradable funds, securitised derivatives and exchange initiatives for 2011.
Speakers at the event include Economic Planning and Investment Promotion minister Tapiwa Mashakada, Securities Commission chief executive Alban Chirume, Ibukun Adebayo, head of Business Development South Asia, Middle East and Africa LSE, Bart Mswaka, vice-chairman, Zimbabwe Stock Exchange, among others.