BUSINESS DAY TV: Decisions on shareholder base encourage liquidity
Ivan Saltzman is a Dis-Chem co-founder and its CEO, and Rui Morais is its chief financial officer. BUSINESS DAY TV: After much anticipation Dis-Chem today made its appearance on the JSE. The new kid on the retail block fetched R18.50 per share in its share placement, raising R4.4bn for a 27.5% stake in the business, valuing the company at R16bn. It opened trade this morning at R23 a share. CEO Ivan Saltzman and chief financial officer Rui Morais joins us in the News Leader studio now. Thank you both for joining us this evening. Rui, you finally tapped the markets … the big question, why limit uptake to people or companies able to take up shares worth R1m or more? Surely this was the opportunity to open up the business to loyal customers, suppliers, staff, those that have been involved in the growth of Dis-Chem over the years? RUI MORAIS: There has been a lot of interest in the business and initially when we marketed this story, we marketed the story to institutions. We wanted to cre...
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