Sibanye CEO Neal Froneman
Photo by: Darlene Creamer
JOHANNESBURG (miningweekly.com) – JSE- and NYSE-listed Sibanye will, from September 19, be included in the FTSE/JSE Top 40 index.
It will initially be ranked thirty-fourth on the index.
“Sibanye’s inclusion in the FTSE/JSE Top 40 index is a significant milestone. Considering the relatively short history since the group listed in February 2013 with a market capitalisation of less than R10-billion, to now be recognised as one of the 40 largest companies listed on the JSE, is something I am extremely proud of and highlights the significant returns Sibanye has delivered to shareholders,” CEO Neal Froneman said on Wednesday.
Sibanye investors have received total returns from share price appreciation and dividends of over 350% in the last three and a half years, or a compound annual growth rate of over 50% a year.
“Inclusion in the FTSE/JSE Top 40 Index is likely to provide further share price benefits as funds tracking the index will be required to include Sibanye shares in their portfolios in future,” Froneman stated.