Edgars Stores Limited is set to voluntarily delist from the Victoria Falls Stock Exchange (VFEX), signaling a new chapter focused on agility and long-term growth in Zimbabwe’s evolving retail landscape.
The company views the move as a necessary adaptation to the dynamic challenges posed by an expanding informal market and changing consumer preferences.
Announced ahead of an Extraordinary General Meeting on August 27, the delisting plan is paired with a cash buyout offer from Annunaki Investments, the largest shareholder, giving minority investors a streamlined exit at US$0.0248 per share. This offer aims to unlock value for shareholders amid a notably thin trading market, where less than 5% of shares changed hands in 2025.
Edgars’ chairman, Thembinkosi Sibanda, said that going private will empower the company with faster decision-making, reduced compliance expenses, and an enhanced ability to innovate and respond to market shifts.
“The Board believes that the obligations and cost structures associated with maintaining a public listing are increasingly difficult to justify in the absence of a near-term requirement to access public equity markets.
“Unlisted, the Company will have greater operational flexibility, more agile decision-making, more efficient execution of corporate actions, and the ability to respond more rapidly to market dynamics while consolidating its market share. The resources released from regulatory and compliance costs will be redeployed towards investment in the Company’s store footprint, merchandising, and customer experience,” he said
With 71 stores under its belt and operations spanning multiple retail brands, Edgars is positioning itself to be nimbler and more competitive. Freed from short-term market pressures, the company plans to redirect resources previously tied up in regulatory compliance toward expanding its store footprint and enhancing customer experience.
To accommodate shareholders wishing to retain their stake, Edgars has initiated plans to establish an over-the-counter trading platform post-delisting, ensuring continued liquidity in a more flexible trading environment.
This strategic move highlights Edgars’ commitment to transform and thrive by prioritizing operational flexibility and market responsiveness in an increasingly competitive sector.
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