Vodacom public offer oversubscribed–CEO: Uys

LEADING mobile services provider, Vodacom, says its recent public offer, Yebo Yethu has been three times oversubscribed.

The company’s chief executive officer, Pieter Uys said this is among other significant events that took place during the half-year ended September 30 2008.

“Vodacom is committed to meaningful transformation in South Africa and we were delighted to conclude this major transaction.
The YeboYethu public offer, a large component of the transaction, proved hugely popular and was almost three times oversubscribed.

“We were particularly successful in promoting broad-based ownership, gaining more than 100,000 new shareholders – almost 60% of which had applied for the minimum number of shares”, he said.

YeboYethu Limited is a public company incorporated in South Africa on 19 June 2008.

The company was incorporated for the specific purpose of acquiring an interest in Vodacom SA. The shares are not listed on any exchange.

YeboYethu is a ring-fenced limited purpose vehicle whose sole purpose is to buy and hold Vodacom SA ordinary shares and Vodacom SA A shares for the benefit of shareholders.

Vodacom, which has operations around the continent, is one of three mobile network providers, the others being MTN and Cell C.

By ITNewsAfrica.com