Dis-Chem JSE listing all about expansion plans
Pharmacy group Dis-Chem intends to list on the JSE, but only selected institutional investors willing to splash out at least R1m will get a chance to claim a stake in the company. A Dis-Chem spokesperson said the group had contemplated the need to list for some time and it had become an imperative in light of its expansion plans. "We have spent a lot of focus and management time on the listing over the past calendar year. We would like it to happen now, so that we can return our focus to growing the business." Family-owned Dis-Chem generated revenue of R15.5bn in the 2016 financial year. Dis-Chem’s existing shareholders are the Saltzman Family Trust, holding 66.9% of the company’s shares; other senior managers hold 23.4%; and the remaining 9.7% is held by an investor. Co-founders Ivan and Lynette Saltzman will continue to lead the group as CEO and MD, respectively. Electus Fund Managers equity analyst Damon Buss said the listing would give investors an option to own a good quality b...
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