Founder Ivan Saltzmann to list Dis-Chem on the JSE
Dis-Chem said on Monday it intended to list on the JSE in the latest phase of its growth story. The pharmacy chain, which has 101 stores in SA and two partner stores in Namibia, seeks to double its store footprint in the next five to eight years by pursuing store roll-out opportunities and converting independent pharmacies to the Dis-Chem brand. The company expects to be listed in the six-member food and drug retailers sector, which includes Clicks Group. “Our decision to list on the JSE is an important next phase of Dis-Chem’s growth story. A listing will support our growth and allow us to better service our customers and other stakeholders,” said co-founder and CEO Ivan Saltzman. The Saltzman Family Trust owns just over two-thirds of the company. The listing will also allow existing founder and management shareholders to exit a portion of their investment in the company while still remaining materially invested. The proposed offering – the details of which were not yet released – ...
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