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Nqobile Bhebhe, Senior Business Reporter

REAL estate developer WestProp Holdings Limited has announced its intention to list on the Victoria Falls Stock Exchange on  28 April.

WestProp Holdings Limited is a subsidiary of Alpha Holdings (Pvt) Ltd, which is a property and investment holding company incorporated and domiciled in Mauritius.

The Group WestProp Holdings is 73.3 percent owned by Alpha Holdings Mauritius.

According to the firm, the Preference Share Issue and Ordinary Share Offer were approved by a resolution of the board meeting held on 22 February 2023 and approved by the VFEX on 20 March 2023.

The prospectus indicates that   5,4 million convertible redeemable participating preference shares at a price of US$5 each will be issued, representing an aggregate amount of up to US$27 million.

It also details the offer of up to 1 million ordinary shares at a price of US$10 each, representing an aggregate amount of up to US$10 million and the listing by introduction of 30 million ordinary shares and 6 million convertible redeemable participating preference shares of the Company on the VFEX.

“The Preference Share Issue and Ordinary Share Offer are open to qualifying investors in Zimbabwe and outside Zimbabwe. The Preference Share Issue and Ordinary Share Offer were approved by a resolution of the board meeting held on the 22nd February 2023 and approved by the VFEX on 20th March 2023,” reads part of the prospectors.

“The Preference Share Issue and Ordinary Share Offer will be followed by listing on the Victoria Falls Stock Exchange on Friday 28th April 2023.”