MultiChoice Group plans to offer shareholders in its two broad-based black economic empowerment schemes the opportunity to gain direct exposure to its shares listed on the JSE.
Browsing: Phuthuma Nathi
A finding by the commission last week regarding MTN’s empowerment scheme’s contravention of the B-BBEE Act will have wide implications for similar schemes operated by other listed companies.
MultiChoice will report a full-year headline loss per share of as much as R3.90, from earnings of R4.10 a year ago, as the result of foreign exchange losses and a decision to give additional equity to black investors at no cost.
MultiChoice Group made its market debut in Johannesburg on Wednesday morning as a JSE Top40 company with a market capitalisation of about R44-billion shortly after 9am.
MTN’s black economic empowerment (BEE) share scheme MTN Zakhele is expected to list on the JSE on 5 November. With a market capitalisation of R8,2bn, MTN Zakhele will be the first BEE empowerment share scheme to list on the JSE’s BEE board from its current over-the-counter
In a resounding black economic empowerment success story, the value of the 20% investment in MultiChoice South Africa by BEE shareholders has increased by 20 times. The shares are currently trading around R170 each and, including total dividends paid to date of just