SABMiller must remain on JSE

Johannesburg - SABMiller [JSE:SAB] must remain listed on the JSE if the brewer gets taken over by Anheuser-Busch InBev, according to the Public Investment Corporation (PIC).

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SABMiller has a market capitalisation of R1.3trn and is the largest company on the Johannesburg Stock Exchange, accounting for 12% of its value.

"SAB is a very important company in the South African economy and it is very significant to the JSE," said PIC CEO Dan Matjila.

"It must remain on the JSE."

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The state-owned pension fund, which manages more than R1.6trn worth of pensions on behalf of civil servants, is the fourth-largest shareholder in SABMiller with a 3.4% stake.