National 11.8.2016 11:08 am

Vodacom’s YeboYethu scheme joins JSE empowerment segment

Image: Vodacom

Image: Vodacom

The JSE said in a statement that more than 100 000 people had held a beneficial interest in Vodacom SA through YeboYethu since it was incorporated in 2008.

YeboYethu, Vodacom’s BEE scheme, was on Thursday listed on the empowerment segment of the Johanneburg Stock Exchange’s (JSE) main board.

The JSE said in a statement that more than 100 000 people had held a beneficial interest in Vodacom SA through YeboYethu since it was incorporated in 2008.

It is the third company to list on the empowerment segment, which currently has a total market capitalisation of approximately R7.46 billion. The segment allows BEE shares to be listed and traded among qualifying shareholders.

In the past, BEE shares were traded on the over-the-counter BEE Market, but the Financial Services Board mandated in 2015 that these shares must be traded on a licensed exchange.

“The listing of BEE shares on the JSE provides black shareholders with a platform to trade their shares on one of the best regulated exchanges in the world, offering them guaranteed settlement in a transparent environment,” said Donna Nemer, JSE director for capital markets.

YeboYethu chairman Zarina Bassa said: “We are increasing the protection of YeboYethu investors, ensuring that they continue to maximise value from their shares, using the JSE BEE Segment.”
– African News Agency (ANA)

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