LONDON Stock Exchange (LSE) quoted mining outfit, Kavango Resources will debut trading on the Victoria Falls Stock Exchange (VFEX) tomorrow, after completing a secondary listing on the US dollar - indexed Zimbabwean bourse on Friday.
The listing gives local investors an opportunity to directly hold and trade its shares in Zimbabwe.
The firm successfully raised US$4,5 million during its subscription period, according to official documents.
Kavango initially targeted US$13,5 million through the VFEX listing.
But with US$4,5 million n ow secured from local investors, the balance is expected to be raised through further tranches on the Zimbabwean bourse, and a follow - on UK subscription, the company noted.
In total, about 333 364 773 new ordinary shares will be listed on VFEX, bringing Kavango’s total issued share capital to 3 382 071 594 shares, each carrying one voting right, the company said.
“The Victoria Falls Stock Exchange is pleased to announce…trading in Kavango securities will commence on 8 September 2025,” VFEX said in a statement.
“Kavango retains its primary listing on the London Stock Exchange, with the VFEX serving as its secondary listing to broaden investor access. Kavango successfully raised US$4,5 million during the subscription period.”
Shares bought on VFEX must be transferred through a branch register control account before they can trade in London, meaning liquidity will initially be ring fenced locally.
The branch register system is a common feature of cross listings, designed to ensure settlement within each market’s legal and clearing frameworks.
“As stated in the July announcement, as part of the secondary listing, the company carried out a linked capital raising on the VFEX,” Kavango said.
In July, Kavango reported it had intercepted a high gold deposit of 11,79 grammes per tonne during its drilling campaign at Bill’s Luck Gold Mine, part of its large Hillside Gold Project.
To improve operational clarity, Kavango reverted to using the historic names of the first four gold prospects at its Hillside project in
southern Zimbabwe, from a total of six.
The names Bill’s Luck, Britain, Nightshift, and Steenbok, apply to the previous internal references of Prospect 1, 2, 3, and 4, respectively.
Kavango also has two gold projects on the Filabusi greenstone belt, Hillside and Nara, located in central south Zimbabwe, specifically west of the Great Dyke.