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Dis-Chem to list on JSE

17th October 2016

By: Anine Kilian

Contributing Editor Online

  

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South African pharmacy group Dis-Chem on Monday announced its intention to list its issued ordinary share capital on the main board of the JSE.
 
“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,” CEO Ivan Saltzman said in a statement.

He added that the listing also facilitates a partial exit while allowing existing shareholders and key management to remain materially invested, ensuring strong alignment between management, and existing and new shareholders.

Dis-Chem expects to be listed in the Food and Drug Retailers sector of the JSE.

Dis-Chem, through its wholly-owned subsidiary CJ Distribution, also has a wholesale business serving third-party pharmacy retailers and Dis-Chem’s own retail pharmacies.

Over time, Dis-Chem expects to expand CJ Distribution’s operations to serve both wholesalers and a wider range of retailers.
 

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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