Mid last 2014 Transform SA Online reported that there was fear over the Financial Services’ Board (FSB) regulation outlawing Over-the-Counter trading of black economic empowerment scheme shares. It seems the move might have been a blessing in disguise after all.
Thanks to the regulation, a scheme for previously disadvantaged South Africans to invest in MTN Zakhele, is set to list on the Johannesburg Stock Exchange (JSE), this publication learns. The scheme will make history by becoming the first broad-based black economic empowerment scheme to list on the JSE’s BEE segment.
In a statement, MTN’s Zakhele Chairperson, Sindi Mabaso-Koyana, comments: “There has been a change in the FSB’s policy in relation to the regulation of all providers of over-the-counter share trading platforms for facilitating trading in own shares.”
“The JSE listing will provide shareholders with regulatory certainty for trading their MTN Zakhele shares.”
