YeboYethu, Vodacom\u2019s BEE scheme, has listed on the Empowerment Segment in the telecommunications sector of the JSE\u2019s main board.<\/p>\n
YeboYethu was incorporated in 2008 to hold a direct investment in Vodacom SA. It is the third company to list on the JSE\u2019s Empowerment Segment, which currently has a total market capitalisation of approximately R7.46 billion.<\/p>\n
Donna Nemer, Director: Capital Markets at the JSE says the Empowerment segment allows BEE shares to be listed and traded among qualifying shareholders. \u201cThe JSE believes this will help to foster broad-based share ownership of listed companies by black shareholders.\u201d<\/p>\n
Since YeboYethu’s incorporation, over 100,000 black people have been able to hold a beneficial interest in Vodacom SA through investing in YeboYethu shares. \u201cThe 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,\u201d said Nemer.<\/p>\n
In the past, BEE shares were traded on the over-the-counter (OTC) BEE Market, but in 2015 the Financial Services Board (FSB) mandated that these shares must be traded on a licensed exchange.<\/p>\n
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