AB InBev secures JSE secondary inward listing
Johannesburg - Anheuser-Busch InBev (AB InBev) has obtained a secondary inward listing on the JSE Main Board with effect from the commencement of trading on January 15, the Johannesburg Stock Exchange announced on Tuesday.
The world’s largest brewer announced in November that it intends to list on the South African Reserve Bank and the JSE for the secondary inward listing after acquiring SABMiller for US $107 billion.
An inward listing is required if a non-South African company wants to raise capital in South Africa or issue shares as acquisition currency to South Africans as part of a merger or acquisition.
The JSE on Tuesday said AB InBev would be considered for index inclusion at the March 2016 Quarterly Review for the first time, subject to all other index eligibility criteria being passed, since index series is not applicable to any share that is classified as foreign for index purposes.
At the time of this announcement the average net market cap of the All Share Index was approximately R41 billion, whereas 5 percent of AB InBev’s global market capitalisation was approximately R160 billion.
African News Agency