Sasol Inzalo [JSE:SIPBEE] ordinary shares started trading on the JSE Empowerment Segment on Tuesday morning.
This is the second listing on the empowerment segment after MTN Zakhele [JSE:MTNZBE] shares commenced trading early last month. Listing on the JSE makes it easier for the shareholders to trade their shares.
Sasol Inzalo was established in 2008 and gave over 200 000 previously disadvantaged South Africans an opportunity to own Sasol shares. Inzalo owns 10% of Sasol's issued share capital.
Prior to the listing, Sasol Inzalo shares could be traded over the counter and between October 2014 and October 2015, a total of 307 897 shares were traded in 3 109 transactions. In that period, the average price was R75.01 a share. JSE head of capital markets Donna Oosthuyse said the listing would increase the liquidity of the shares.
Sasol Inzalo chairperson Khungeka Njobe said there had been "ups and downs" since the inception of Inzalo in 2008. Inzalo shareholders knew that they were investing in a company with a track record to deliver value for shareholders, she said.
"Today is a milestone for Sasol Inzalo and a positive indication of the next phase of growth for the share scheme. By listing Inzalo Public on the main board of the JSE, shareholders will be able to trade on a world class stock exchange and benefit for the flexibility this platform offers," Njobe said.
Source: Fin24
