Sibanye-Stillwater re-lists on JSE with a market capitalisation of nearly R120 billion

CFO Charl Keyter: The group had gone from a market capitalisation of R10 billion in 2013 to R120 billion in 2020.

On Wednesday 19 February, the Johannesburg Stock Exchange (JSE) announced the re-listing of precious metals miner Sibanye-Stillwater in the basic resources sector of the main board. 

According to the JSE’s statement, the miner acquired 100 percent of Sibanye Gold, with a new listing of Sibanye-Stillwater shares on the JSE and American Depositary Receipt (ADR) on the New York Stock Exchange (NYSE), in an effort to create an efficient group structure and adapt to a more diverse portfolio. 

Sibanye-Stillwater CFO Charl Keyter (pictured) said: 

"Sibanye was created in 2013 after Gold Fields unbundled its South African gold mines Kloof, Driefontein and Beatrix and has grown into a leading international precious metals mining company, with a diverse portfolio of platinum group metal (PGM) operations in the United States and Southern Africa. Sibanye listed as a R10 billion South African gold producer in 2013 and now, in 2020, almost seven years to the day that we listed, we are a leading global precious metals producer with a market capitalisation of nearly R120 billion."

Sibanye-Stillwater CEO Neal Froneman said: 

“The last seven years have proved to be an exciting journey of strategic growth with the company’s market capitalisation increasing over 10-fold since listing. In fact, I understand that we rocketed into the top half of the JSE top 40 index just the other day, which is a remarkable achievement given where we have come from.” 

Sibanye-Stillwater’s re-listing is the first new listing on the JSE in 2020 and contributes towards a market capitalisation of R534 billion in the platinum and precious metals sub-sector on the exchange. It also brings the number of companies listed on the exchange to 353 with an overall market capitalisation of R17.5 trillion.

JSE director of capital markets Valdene Reddy said: 

“Sibanye-Stillwater has been a long-standing client of the JSE and it is an honour to see the company grow and diversify to be a global leader in the precious metals industry.”