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Sasol Inzalo Public to list on JSE

17th September 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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Sasol Inzalo Public, which was established through energy and chemicals company Sasol’s largest broad-based black economic-empowerment (BEE) transaction, intends to list on the BEE segment of the JSE’s main board.

The R26-billion transaction has given over 290 000 previously disadvantaged South Africans the opportunity to own a part of Sasol and benefit from its success.

If approved by the JSE, Sasol Inzalo Public shareholders would be approached for the approvals required to enable a listing. This includes black South Africans, broad-based BEE- (BBBEE-) owned companies and BBBEE controlled companies.

Sasol Inzalo Public indirectly owned 2.4% of Sasol’s total issued share capital. “The proposed listing on the JSE will provide existing and prospective holders of ordinary shares with access to a licensed trading platform with the benefits of a globally recognised stock exchange in a regulated environment,” the company said in a statement.

The shares would be traded exclusively among BEE-compliant persons.

The decision to list was taken after the Financial Services Board noted that it would no longer allow existing single counter trading mechanisms to continue operating without a licence under the Financial Markets Act 2012.

Sasol Inzalo Public was granted an exemption to operate its existing trading mechanism until November 30.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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