MTN Group: Zakhele share trading highly active

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Over-the-counter trading of shares in the MTN Zakhele black economic empowerment scheme was more active in the first hours after the platform opened on Wednesday than over the two days the trading system was operational in November last year. Chairman Thulani Gcabashe said yesterday that there had been “huge demand” for the shares. MTN Zakhele trading was suspended two days after launching on November 25 when the online platform could not cope with the high demand as shares became tradeable for the first time. Trading resumed on Wednesday at 9am and was heavy throughout the day, with as many as 3 000 traders simultaneously transacting. The market remained liquid and active until the end of business at 5pm. By the close 639 780 shares worth R53 million had been traded. The shares closed at R82.55 each. Existing and prospective investors can trade via the call centre and website. – Business Report

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