Dis-Chem announces plans to double in size as it debuts on the JSE
Dis-Chem plans to double in size over the next five years, CEO Ivan Saltzman said on Friday as the medicines chain made its debut on the JSE. Founded in 1978 by Saltzman and his wife Lynette, Dis-Chem has become a major retailer of health products, with sales of more than R15bn a year. The group braved market uncertainty in SA’s second-largest listing of this year, smaller only than the R90bn Bidcorp debut. Dis-Chem opened at R23.26, valuing it at about R20bn, as it takes on larger rivals Clicks, Shoprite and Pick n Pay, which also sell medicines. Saltzman said Dis-Chem had 106 South African outlets and planned to expand this to more than 200. Clicks has more than 700 outlets and annual sales of about R23bn. "We will continue on the same trajectory ... we’ve doubled since 2010 and we will double again in the next five years," Saltzman said after shares constituting 27.5% of the Dis-Chem began trading. They had fallen 9.9% from their opening price to R20.95 by 11.53am GMT. The Saltzm...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.