JOHANNESBURG – DIS-CHEM Pharmacies Limited (JSE: DCP), a specialist pharmacy and health company, has listed in the Food and Drug Retailers sector on the Johannesburg Stock Exchange’s Main Board.
Dis-Chem is the 14th company to list on the JSE this year.
Donna Nemer, Director: Capital Markets at the JSE, says the exchange is excited to welcome Dis-Chem Pharmacies.
“We are very pleased to welcome this established pharmacy and health company onto the Main Board of the JSE and hope that this listing helps Dis-Chem to further propel it on its growth journey. The Food and Drug Retailers sector remained resilient this year despite strong economic headwinds.”
Dis-Chem is South Africa’s second-biggest retail chain of chemists by number of stores, and specialises in beauty, health and health food, sports supplements and well-being, in addition to pharmaceutical products. It currently has 101 stores in South Africa and two partner stores in Namibia.
“Listing will allow us to advance and improve our strategy, and at the same time ensure that we can continue growing market share across our product offerings, as well as building on the tremendous brand positioning that has been established over the last 38 years,” says Ivan Saltzman, Dis-Chem Co-Founder and CEO.
Saltzman says Dis-Chem has more than doubled its store base since 2010 and tripled it since 2008. Dis-Chem plans to open a further eight stores during the six months ending 28 February 2017 and at least 18 stores during the financial year ending February 28, 2018.
Dis-Chem joins eight companies in the Food and Drug Retailers sector of the JSE. The Food and Drug Retailers sector has a total market cap of R220,39 billion, which constitutes 2 percent of the overall JSE market cap of R13,6 trillion.
– CAJ News