Wednesday, 19 February 2014 00:00
Written by Staff writer
Shameel Joosub, Vodacom
Vodacom’s public share offer, YeboYethu – the operator’s R7.5 billion black economic empowerment (BEE) venture – has opened up for limited trading in shares.
The company announced that, five years down the line, since the launch of YeboYethu, shareholders can now trade their shares via the over-the-counter platform, operated by Equity Express.
“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,” says the operator.
Vodacom CEO
Shameel Joosub" rel=tag>Shameel Joosub says the BEE scheme has already paid out almost R65 million in dividends. Now, he adds, small shareholders across SA “can either increase their stake or unlock the value of their investment”.
Vodacom says it is important to note YeboYethu shares relate to
Vodacom SA only, and are distinct from
Vodacom Group shares, which trade on the Johannesburg Stock Exchange. “The price of YeboYethu shares is not directly linked to the price of
Vodacom Group shares.”
YeboYethu chair Zarina Bassa says the group started the verifi cation process for YeboYethu shareholders back in November, so they would be ready to trade straight away. “We’ve also registered more than 2 000 buyers so far, with interest growing daily.
“We partnered with an experienced trading platform that handles high-volume accounts for several other major BEE schemes, and we’ve also conducted extensive stress testing on the trading system, so we’re aiming for a smooth start.”
Information relating to the trading process – as well as who is eligible to trade – is available on
Vodacom’s YeboYethu Web site.