Dis-Chem JSE list

Weekend Argus (Saturday Edition) - - FRONT PAGE -

DIS-CHEM plans to raise up to $359 mil­lion (R4.9 bil­lion) with a stock mar­ket list­ing it has said to re­duce debt and al­low founders to re­coup some of their in­vest­ment.

Dis-Chem will tap an un­cer­tain equity mar­ket as it looks to take on larger ri­val Clicks Group and Sho­prite and Pick n Pay, which also have phar­ma­ceu­ti­cal re­tail op­er­a­tions.

Dis-Chem said it would sell 238.4 mil­lion shares, equat­ing to a 27.5 per­cent stake, at be­tween R16.25 and R20.25.

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