Dis-Chem JSE list

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.