Vodacom’s empowerment vehicle to list on the JSE
VODACOM’s empowerment company, which sold stock to black South Africans at a discount in 2008, will list on the JSE on Thursday, a move that furthers the company’s chances of winning wireless spectrum in a proposed auction.Vodacom issued 14.4-million shares to black investors in the vehicle, YeboYethu, at R25 apiece eight years ago. YeboYethu is moving to the JSE after over-the-counter trading ended on July 15, statements on its website show. The mobile carrier’s stock closed at R156.80 on Wednesday.READ THIS: Vodacom calls for lower licence pricesThe shares would be listed on the black economic empowerment (BEE) segment of the JSE, which had the principal advantage for the company of ensuring the identity of buyers and sellers of the shares were tracked to ensure ongoing empowerment ownership of the shares, said Morgan Jones from Bravura Consulting, which advises companies on BEE legislation."From the shareholders’ perspective, these listings are designed to have benefits, includin...
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