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Vodacom’s BEE scheme joins JSE empowerment segment

11th August 2016

By: African News Agency

  

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YeboYethu, Vodacom’s BEE scheme, was on Thursday listed on the empowerment segment of the JSE’s 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,” Donna Nemer, JSE director for capital markets, said.

YeboYethu chairperson 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.”

Edited by African News Agency

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