Today, MTN Zakhele Futhi (RF) Limited (MTNZF) listed on the Empowerment Segment of the Johannesburg Stock Exchange (JSE).
MTNZF is a ring-fenced special purpose vehicle aimed at facilitating investment by previously disadvantaged South Africans in MTN Group Limited (MTN). MTNZF holds approximately 77 million shares in MTN, amounting to approximately 4% of MTN's issued share capital. MTNZF has approximately 89 000 shareholders holding 123.4 million MTNZF ordinary shares. The listing of MTNZF will facilitate and enable trading in MTNZF shares amongst qualifying black participants.
Sindisiwe Mabaso-Koyana, Chairperson of MTNZF says: "MTN Zakhele Futhi is pleased to be listing on the JSE, providing our shareholders with the ability to now trade their shares and realise the market value of their investment. We have provided our shareholders with a facilitated trading process, operated by Nedbank, to ensure that our shareholders are able to trade their shares in the most cost-efficient manner. Shareholders are also able to use their own broker through an independent trading process. Shareholders are encouraged to make sound investment decisions when electing to sell, hold or buy more shares in order to maximise the true value of their shares."
The JSE's Empowerment Segment was established in 2015 for the listing of BEE securities and provides previously disadvantaged South African shareholders with a platform to trade their shares on one of the best regulated exchanges in the world. The segment has a market capitalisation of R2,7 billion.
Valdene Reddy, Acting Director: Capital Markets says: "The listing of MTN Zakhele Futhi on our BEE Segment represents significant progress in the transformation of our Capital Markets by providing growth, access and inclusivity to previously marginalised people in our country."
This is the second listing on the JSE's BEE Segment, which has been facilitated by MTN. The first one was that of MTN Zakhele (RF) Limited which was listed on the JSE in 2015, and subsequently delisted and unwound in 2016. The newly listed MTNZF will be listed for a minimum period of five years, until 25 November 2024.
This is the JSE's fourth listing for 2019 after the listing of Prosus last month, as well as the MultiChoice Group and Tsogo Sun Hotels Ltd earlier in the year. The JSE currently has 357 companies listed on the exchange with an overall market capitalisation of R13, 3 trillion.
