The Bond Exchange of South Africa Limited (BESA) is pleased to announce the final shareholder and underwriter allocations following its annual general meeting on Monday, 29 September in Johannesburg.
Garth Greubel, BESA’s Chief Executive, explains, “At the AGM last week, shareholders voted overwhelmingly in support of our capitalisation. Having 98% of votes cast in favour of the Rights Issue indicates solid market support for our growth strategies which will guide and shape the future of our business.”
After the allocation and transfers to underwriters, 49.2% of BESA’s share capital will be held by: Investec Group (15%), New Zealand Exchange Limited (22%), Purple Capital Limited (5.3%) and Standard Bank Corporate and Investment Banking (6.9%). This equates to just over R66.2 million from the underwriters with the remainder of the shares being taken up by existing shareholders.
BESA has already received regulatory approval to allow for New Zealand Exchange Limited’s shareholding to be in excess of the 15% as stipulated by the FSB.
“We are excited about the NZX shareholding as well as our JV initiative with NASDAQ OMX, which holds 20% in BondClear, one of BESA’s key projects. These partners, together with Investec Bank, Purple Capital and Standard Bank, will bring new insights and commercial input to BESA.”
“We are pleased to have finalised our capitalisation transaction and encouraged by the support from the market. Our attention is now firmly focused on delivery to our shareholders, our partners and market participants as we strive to advance our philosophy of building better markets in South Africa and further afield.” concludes Greubel.
