The Zimbabwe Stock Exchange
ANALYSTS have set 4,18c 18-month target price on GetBucks Zimbabwe on an intrinsic value of US$41,8 million.
GetBucks Zimbabwe opened its IPO on Monday to raise a total amount of US$3,2 million through the subscription of 93 567 251 ordinary shares in the company at a subscription price of 3.42 cents per share. On conclusion of the IPO the entire share capital of GetBucks Zimbabwe of 1 093 567 251 ordinary shares will be listed on the Zimbabwe Stock Exchange on January 15, 2016.
GetBucks Zimbabwe is a financial technology company 55 percent owned by GetBucks Limited, also a fintech company with operations in nine countries with the remaining 45 percent owned by Brainworks Capital. The fintech is a growing sector with statistics showing that investment in financial technology more than tripled to more than US$12 billion in 2014 from $930 million in 2008
GetBucks Zimbabwe commenced operations in 2013 as a provider of microcredit and over the past 2 years grew to become one of the leaders in offering microcredit in the country. In addition, GetBucks Zimbabwe has broadened their services to offer insurance services.
Initiating coverage on the company, ABC Stockbrokers Research believes that the outlook of the company looks bright and as such are forecasting an uplift on the IPO price. They also see the company paying out consistent dividends to shareholders if its capital levels are strengthen.