The Yebo Yethu OTC market is open for trading

Julie Brownlee, Fsp Invest, 17 Feb. 2014

Tags: yebo yethu, vodacom, vodacom sa, bee scheme, mtn zakhele, yebo yethu shares, buying yebo yethu shares, selling yebo yethu shares, share, trading, otc, bee, trading platform, trading yebo yethu

Two weeks ago, shares in Yebo Yethu started trading. Qualifying investors can now buy and sell Yebo Yethu shares on a dedicated platform. After trading initially started at R50 a share, the price has moved about a bit. Let’s take a closer look at what’s going on with Yebo Yethu shares now they’re trading…

On 3 February, shareholders of Yebo Yethu shares could finally start trading them. And if interested investors hadn’t taken up the offer to buy shares in 2008, they now have the chance

The introduction of the “R7.5 billion BEE [black economic empowerment] scheme” is to provide “grassroots empowerment,” reports MoneyWeb. More than 100,000 took up the offer and bought their “stake in Vodacom SA”.

To trade the shares, investors use “an over-the-counter [OTC] platform run by Equity Express,” says IOL. To date, investors who purchased shares in 2008 have already received nearly R65 million in dividends”.

The chairman of Yebo Yethu, Zarina Bassa, said by the first day of trading, in excess of 2,000 shareholders had registered for trading, adds IOL. Mr Bassa says that as well as informing shareholders of their options, they want to “empower shareholders with educational information on how to trade”.

Trading kicked off at R50 a share

On 3 February, trading began with “an opening trade of 100 shares at R50 per share,” says Business Tech. The first day saw a trading range of R40.26 to R50.00.

Today, on the platform, 235 trades took place, valued at R1,079,315, according to Yebo Yethu. Shares closed at R50.15, but traded as high as R51.50.

MTN launched its trading platform for its BEE scheme MTN Zakhele in November, adds Business Tech. But trading suffered delays due to technical issues. Trading finally resumed on 29 January.

If you want to buy shares in Yebo Yethu, you can register on the Yebo Yethu website. Or if you already own shares and want to sell and buy more, you can also just visit the site for more information.

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