Sanlam’s R 7.8billion B-BBEE Share Issue Finalised

March 13, 2019




Sanlam has announced today that it has agreed to the pricing of the Broad-based Black Economic Empowerment Transaction announced in October 2018. Sanlam will now proceed with the issuance of 111 349 000 Sanlam ordinary shares to the Subscription SPV (an SPV in which 80% new beneficiaries will participate) at an issue price of R70 per share, being a discount of 9.88% to the three-day VWAP on 8 March 2019.

On 12 December 2018 Sanlam shareholders approved the package of transactions, which includes the aforementioned equity raising.





Sanlam Group Chief Executive Officer, Mr Ian Kirk said: “We are pleased with the progress we have made on our transformation strategy. The implementation of the 5% share issuance signals another milestone in the diligent execution of that strategy.”


The new broad-based beneficiary groups will include, among others, professional black women, rural and urban black women groups, black youth and black business partners. The B-BBEE Transaction contributes to Sanlam’s strong and market-leading position in terms of empowerment.






Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER


Share on Facebook
Share on Twitter
Please reload

Featured Posts


January 17, 2020

Please reload

Recent Posts