The Victoria Falls Stock Exchange (VFEX) has changed how it calculates the market capitalisation of companies whose securities are also traded on other recognised stock exchanges, with the new approach taking effect on August 13, 2026.
According to a public statement obtained by Hurumende News Hub, VFEX will now recognise the global market capitalisation of cross-listed issuers.
Under the revised methodology, an issuer’s global market capitalisation will be determined by multiplying the prevailing market price of its securities on VFEX by the company’s total number of issued shares.
VFEX Head of Markets Robert Mupawa said the methodology was intended to reflect the issuer’s total value, regardless of how its listed securities were distributed across recognised exchanges.
“This methodology is intended to reflect the overall equity value of the issuer, irrespective of the distribution of its listed securities across recognised exchanges,” Mupawa said.
He said adopting the approach would bring VFEX’s treatment of cross-listed companies into line with market-capitalisation conventions used in other jurisdictions.
“The adoption of this approach is intended to align VFEX’s treatment of cross-listed issuers with market-capitalisation conventions commonly applied to cross-listed securities in other jurisdictions and to promote comparability, transparency and consistency in the assessment of issuer size and market standing,” Mupawa said.
The change means that securities traded on other recognised exchanges will be considered when VFEX determines the overall market value of a cross-listed company.
Market capitalisation is generally used to measure the total market value of a listed company’s issued shares. It can influence how companies are ranked and compared by investors, analysts and market operators.
Mupawa said VFEX reserved the right to request more information or use a different calculation method where necessary.
“VFEX reserves the right, where necessary to ensure a fair and accurate determination of market capitalisation, to request additional information or apply an alternative methodology,” he said.
