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Vodacom’s YeboYethu shares advance

Staff Writer

 ·4 Feb 2014

Vodacom’s R7.5 billion BEE scheme Yebo Yethu, advanced 2.0% in afternoon of its second day of trade.

YeboYethu was designed with the express intention of providing true grassroots empowerment, and through this scheme, over 100,000 people bought a stake in Vodacom SA.

Yebo Yethu, which owns 3.44% of Vodacom, was initiated by the telco in June 2008, with an initial value of R2.2 billion.

As of Monday (3 February), shareholders are able to trade their shares via the over-the-counter (OTC) platform operated by Equity Express, for YeboYethu.

The market opened at 09:00 am on Monday with an opening trade of 100 shares at R50 per share, while the maximum price for the day reached R56, before settling back to R40.26

By 14:00 pm, shares in Yebo Yethu moved 2.09% higher to R41.10, with volume traded at 21,680 and at a value of R882,930.MTN Zakhele was seen trading at R87.40, up 0.23%.

Yebo Yethu, MTN Zakhele close, 3 February 2014

Yebo Yethu, MTN Zakhele trade, 4 February 2014

Vodacom’s initiative follows the re-launch of MTN‘s BEE scheme, MTN Zakhele, on Wednesday (29 January), following several delays due to technical issues amid high demand.

MTN’s scheme initially launched on 25 November, and by the end of the first day, approximately 93,000 MTN Zakhele shares with a total value of R8.1 million changed hands. MTN Zakhele closed at R84 per share.

MTN noted that 63,917 calls were made to the call centre and there were 22,385 unique visits to the website. On the second day over 100,000 shares to the value of R7.8 million were traded, with 79,000 calls to the call centre and 25,000 visits to the website.

More on Yebo Yethu

MTN Zakhele to resume trading

Vodacom’s R7.5 billion YeboYethu Scheme begins trading

Vodacom’s Yebo Yethu gets trading date

MTN Zakhele cleared for lift-off