MTN Zakhele lists on JSE
JOHANNESBURG, (CAJ News) – MTN Zakhele has listed on the Empowerment Segment of the Johannesburg Stock Exchange’s Main Board.
Established as a vehicle for previously disadvantaged South Africans to invest in MTN Group Limited (MTN Group), the company is the to list on the Empowerment Segment of the JSE this year.
The scheme’s debut onto the Empowerment Segment follows the directive from the Financial Services Board (FSB) to ensure that all over-the-counter (OTC) share trading platforms become regulated.
JSE Director of Capital Markets, Donna Oosthuyse, commented on the significance of the listing.
“The JSE wants the Empowerment Segment to enable broad-based share ownership of listed companies by black shareholders. MTN Zakhele’s listing is an exciting development for the JSE. It will provide 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. We look forward to further listings on the Empowerment Segment,” said Oosthuyse.
The JSE established its Empowerment Segment in 2011 as a platform for the secure trading, clearing and settlement of BEE securities.
MTN Zakhele’s Chairperson, Sindi Mabaso-Koyana, said Thursday marked a significant milestone for our shareholders.
“The listing on the JSE’s Empowerment Segment of the main board provides MTN Zakhele shareholders with several advantages. In particular, the JSE listing provides shareholders with regulatory certainty for trading their MTN Zakhele shares. We anticipate that a listing will provide black participants with greater liquidity in comparison with the OTC share trading platform; with price discovery, as the JSE’s share prices are publically available across most print and online financial publications,” said Mabaso-Koyana.
– CAJ News
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