Broad-based black economic empowerment (BBBEE) scheme Ukhamba 2 on Thursday listed on the Equity Express Securities Exchange (EESE).
Ukhamba 2 is JSE-listed Motus’ employment empowerment scheme. Motus was unbundled from Imperial Holdings earlier this year and listed on the JSE on Thursday.
Ukhamba 1, which is Imperial’s empowerment scheme, listed on the EESE in December 2017.
EESE CEO Anthony Wilmot noted on Thursday that Ukhamba 1 had started trading at R14 apiece, which peaked at R57.75 a share in September. The scheme currently has a market capitalisation of R797-million, with 392 000 shares having been traded since listing that equate to R10.3-million.
As with the Ukhamba 1 shares, Ukhamba 2 restricts ownership and trading in its shares. Singular Systems acts as the sole broker and verification agent that enforces BEE shareholder restriction and ensures adherence to the scheme’s rules.