AB InBev’s listing on the Johannesburg Stock Exchange (JSE) on Friday “reflects well on South African financial markets and sends a positive message to potential issuers‚ both local and international”.
That’s according to the director of the JSE capital markets‚ Donna Oosthuyse‚ as the leading global brewer became the first company to list on the bourse in 2016.
“From today‚ the Ordinary Shares of AB InBev will be tradable by South African local investors without using their foreign portfolio allowances‚” said Oosthuyse.
“The listing provides investors with an attractive rand hedge‚ particularly in light of a weaker currency and an opportunity to invest and participate in‚ the future growth of AB InBev.”
AB InBev’s listing was also touted as showing the effectiveness of the “the fast track listing process…introduced to the JSE’s listing requirements in 2014”.
This process enables companies to secondary list on the JSE “more quickly and easily if they already hold a primary listing on certain international exchanges recognised by the JSE”.
The secondary listing comes after the last year’s announcement “by the boards of directors of AB InBev and SABMiller that they had reached an agreement on the terms of a recommended acquisition of the entire issued share capital of SABMiller by AB InBev”.
AB InBev CEO Carlos Brito said: “We are delighted to be listing on the JSE today.
“We were keen to do so as soon as possible as part of our commitment to investing in South Africa‚ and we appreciate the support we have received from the JSE‚ South African Reserve Bank and local investment community to make this happen.
“We look forward to welcoming new shareholders to AB InBev.”
‘AB InBev listing provides investors with an attractive rand hedge’
That’s according to the director of the JSE capital markets‚ Donna Oosthuyse‚ as the leading global brewer became the first company to list on the bourse in 2016.
“From today‚ the Ordinary Shares of AB InBev will be tradable by South African local investors without using their foreign portfolio allowances‚” said Oosthuyse.
“The listing provides investors with an attractive rand hedge‚ particularly in light of a weaker currency and an opportunity to invest and participate in‚ the future growth of AB InBev.”
AB InBev’s listing was also touted as showing the effectiveness of the “the fast track listing process…introduced to the JSE’s listing requirements in 2014”.
This process enables companies to secondary list on the JSE “more quickly and easily if they already hold a primary listing on certain international exchanges recognised by the JSE”.
The secondary listing comes after the last year’s announcement “by the boards of directors of AB InBev and SABMiller that they had reached an agreement on the terms of a recommended acquisition of the entire issued share capital of SABMiller by AB InBev”.
AB InBev CEO Carlos Brito said: “We are delighted to be listing on the JSE today.
“We were keen to do so as soon as possible as part of our commitment to investing in South Africa‚ and we appreciate the support we have received from the JSE‚ South African Reserve Bank and local investment community to make this happen.
“We look forward to welcoming new shareholders to AB InBev.”
Would you like to comment on this article?
Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Trending Now
Latest Videos