(Ecofin Agency) - Sasol on Wednesday announced that its empowerment unit, Sasol Inzalo Public, has been granted permission to be listed on the Johannesburg Stock Exchange (JSE)’s main board.

The company was given the go ahead on Tuesday after all the required approvals were received. According to IOL news, its shares on the JSE were quoted down 0.32 % (R415.12), making the company worth R270.4 billion.

The Petrochemical giants’ empowerment unit was established in 2008. It indirectly owns 2.4 % of Sasol’s entire issued share capital and has 206, 496 black individuals and black groups as shareholders, which makes it one of the major empowerment transactions in South Africa. It holds nearly 16 million shares in Sasol.