ANHEUSER-Busch InBev’s (AB InBev) says its intention to list on the JSE in mid-January shows its "commitment to SA and the African continent".
That is according to a statement that said AB InBev "has received approval from the Financial Surveillance Department of the South African Reserve Bank and the JSE for the secondary inward listing".
This‚ the company said‚ "will be a critical driver of future growth for the company" in its proposed merger with SABMiller.
When the listing goes through‚ ordinary shares in the company "will be tradable by South African resident investors without reference to their foreign portfolio allowances and will be classified as ‘domestic’ for exchange control purposes".
AB InBev CEO Carlos Brito said "the listing will provide us with access to the South African investor base and broaden participation in AB InBev’s strong prospects for future growth".
JSE CEO Nicky Newton-King‚ welcomed the announcement‚ saying the bourse was "pleased that the company has chosen the JSE as its listing destination".
TMG Digital
