YeboYethu, Vodacom’s BEE scheme, has listed on the Empowerment Segment in the telecommunications sector of the JSE’s main board.
YeboYethu was incorporated in 2008 to hold a direct investment in Vodacom SA. It is the third company to list on the JSE’s Empowerment Segment, which currently has a total market capitalisation of approximately R7.46 billion.
Donna Nemer, Director: Capital Markets at the JSE, says the Empowerment Segment allows BEE shares to be listed and traded among qualifying shareholders.
“The JSE believes this will help to foster broad-based share ownership of listed companies by black shareholders.”
Since YeboYethu’s incorporation, over 100,000 black people have been able to hold an interest in Vodacom SA through investing in YeboYethu shares.
“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 Nemer.
In the past, BEE shares were traded on the over-the-counter BEE Market, but in 2015 the Financial Services Board mandated that these shares must be traded on a licensed exchange.