Vodacom lists YeboYethu shares on JSE BEE segment
Vodacom, SA’s largest mobile network, has listed its YeboYethu ordinary shares on the JSE’s BEE segment. This follows a directive from the Financial Services Board (FSB) stipulating that companies shift their over-the-counter BEE share trading to licensed stock exchanges. Shameel Joosub (pictured), Vodacom Group CEO, said in a statement:
"Regulatory certainty aside, one of the major advantages of this move is an anticipated increase in liquidity, which can only be positive for buyers and sellers alike. Being listed on the JSE also means that YeboYethu shareholders will have wider and easier access to professional broking services offered by JSE Members."
According to Vodacom, moving to the JSE's BEE segment is expected to have various benefits for YeboYethu shareholders, including easier price discovery and greater investor protection owing to the likes of the JSE's regulated market.