A Manx-based company is hoping to list on the Zimbabwe Stock Exchange by buying out a company it already owns 60 per cent of.

Investment company Cambria Africa, based in Athol Street in Douglas, wants to buy out minority shareholders in Celsys Limited.

The Manx firm has proposed a Scheme of Arrangement for shareholders to receive shares in Cambria in return for their Celsys holdings.

A meeting will be held at the end of this month to allow voting about the scheme, which has been approved by Zimbabwe’s High Court.

Celsys produces documents such as cheque books, share certificates and deposit books for banks and financial institutions in Zimbabwe.