‘We launched Bula Tsela and the retail component very much as a broad-based empowerment transaction, something similar to that when Old Mutual demutualised in 1999 and distributed free shares to all customers’: CEO Iain Williamson.
Applications open to all black South Africans. There s been quite some interest from parents and grandparents to buy shares for kids: Taskeen Ismail – head of corporate finance, Old Mutual.
The Old Mutual Bula Tsela BEE share offer opened yesterday morning to a flood of queries, and management expects the offer to be fully subscribed before the application period ends on 24 October.