OK Zimbabwe Limited is set to delist from the Zimbabwe Stock Exchange (ZSE) after 25 years, as the retailer seeks greater flexibility to restructure its struggling business under corporate rescue.
The company, which has been under corporate rescue since February, said maintaining its stock exchange listing had become costly as it seeks to negotiate with creditors and pursue asset sales as part of its recovery strategy.
Its shares have been suspended from trading since February, amid mounting financial and operational challenges.
Corporate Rescue Practitioner, Bulisa Mbano described the planned delisting as “a strategic pause” intended to give the retailer room to implement its recovery measures away from the demands of a public listing.
The company said delisting would provide the operational flexibility needed to negotiate debts and dispose of assets without the level of public scrutiny associated with being listed.
The move comes despite OK Zimbabwe having raised fresh capital through a rights issue in July 2025. Under ZSE rules, companies are generally barred from delisting within two years of raising capital, but the exchange has waived the requirement to allow the retailer to proceed.
The delisting is expected to cost the company US$104 450, excluding value-added tax.
OK Zimbabwe’s shareholding is concentrated among a small group of major investors, with the top five shareholders collectively controlling 71.57% of the company.
Datvest Nominees holds a 22.67% stake, while the National Social Security Authority’s two funds collectively own about 26%. Old Mutual Life holds 12%, while QuantAfrica has a 10,6% stake.
The delisting is meant to facilitate the retailer’s recovery, though there is no guarantee that the company will return to the ZSE once its restructuring process is complete.
