RURAL RETAILER
Kaap Agri keen to list on JSE
No date yet, but the board of directors has instructed management to go ahead with the listing
Highly profitable farming community retailer Kaap Agri – which has PSG-aligned Zeder Investments as its largest shareholder – is investigating a JSE listing, possibly by as early as midyear. Although no listing date has officially been set, Kaap Agri confirmed on Friday in a notice to shareholders that the board of directors had "instructed management to go ahead with the listing of the company on the main board of the JSE". While the JSE’s retail segment has been under pressure in recent months as consumer spending waned, the market warmly welcomed healthcare retailer Dischem to the bourse in November. Like Dischem, Kaap Agri has been consistently profitable and has managed to grow its operating footprint. Kaap Agri has diversified away from its core Agrimark stores to include fuel sales, hardware stores, liquor outlets and convenience shops. The company has 180 operating points across the Swartland, Boland, Overberg, Langkloof, Namaqualand, Orange River, Sundays River Valley and N...
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