AB InBev lists on JSE
JOHANNESBURG, (CAJ News) – AB InBev, the global brewer, has listed on the Johannesburg Stock Exchange (JSE).
The listing on Friday follows the November 2015 announcement by AB InBev and SABMiller they had reached an agreement on the acquisition of the entire issued share capital of SABMiller by AB InBev.
Donna Oosthuyse, Director of the JSE Capital Markets, said the listing reflected well on South African financial markets and sent a positive message to potential issuers.
“The listing provides investors with an attractive rand hedge, particularly in light of a weaker currency and an opportunity to invest and participate in, the future growth of AB InBev,” said Oosthuyse.
AB InBev’s listing was effected following the JSE’s approval to grant the company a secondary listing of its Ordinary Shares and fulfilment of the requirements of the fast track listing process.
The fast track listing process was introduced to the JSE’s listing requirements in 2014.
This enables companies to secondary list on the JSE more quickly and easily if they already hold a primary listing on certain international exchanges recognised by the JSE.
Carlos Brito, Chief Executive Officer of AB InBev, expressed delight at the listing.
He appreciated the support received from the JSE, South African Reserve Bank and local investment community.
“We look forward to welcoming new shareholders to AB InBev,” said Brito.
AB InBev will be included in the Beverages sector of the main board, which has a total market capital capitalisation of R11,28 trillion and constitutes 14,7 percent of the overall market cap of the exchange.
– CAJ News
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