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)