Dis-Chem share price falls after listing
Dis-Chem Pharmacies'' share price fell by over 8% after listing on the Johannesburg Stock Exchange on Friday.
The family-owned pharmacy and health company made its debut at N$23.36 a share. The price subsequently fell to N$21.28, and settled at N$21.48 when markets closed.
Dis-Chem is the 14th company to list on the JSE this year. The retailer currently has 101 pharmacies in South Africa and two in Namibia.
The listing is part of the Dis-Chem group''s growth strategy. Dis-Chem stated that it raised N$4.4 billion through the placement of 236.8 million shares at N$18.50 per share. The shares placed on listing represent 27.5% of Dis-Chem''s issued share capital.
The family-owned pharmacy and health company made its debut at N$23.36 a share. The price subsequently fell to N$21.28, and settled at N$21.48 when markets closed.
Dis-Chem is the 14th company to list on the JSE this year. The retailer currently has 101 pharmacies in South Africa and two in Namibia.
The listing is part of the Dis-Chem group''s growth strategy. Dis-Chem stated that it raised N$4.4 billion through the placement of 236.8 million shares at N$18.50 per share. The shares placed on listing represent 27.5% of Dis-Chem''s issued share capital.
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