Chemist chain Dis-Chem made its debut on the JSE on Friday, with its shares opening at R23.26 and valuing it at around R20bn. Dis-Chem’s share price subsequently stumbled slightly to R21.50. Founded by CE Ivan Saltzman and his wife Lynette, Dis-Chem is tapping an uncertain equity market as it looks to take on larger rival Clicks Group and retailers Shoprite and Pick n Pay, which also have pharmaceutical retail operations. Dis-Chem said earlier this week it had sold a 27.5% stake to investors at R18.50 per share, valuing the company at almost R16bn. Dis-Chem, which runs about 100 stores, has grown from a start-up in 1978 to a major health products retailer with annual sales of more than R15bn. Reuters
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