South Africa's Dis-Chem raises $82 million in accelerated bookbuild

South Africa's Dis-Chem raises $82 million in accelerated bookbuild
JOHANNESBURG (Reuters) - South African drug store chain Dis-Chem has raised 1.120 billion rand ($82.14 million) from sale of a part of the shares held by its senior management team, the company said on Tuesday.

The sale of shares will see founder and chief executive officer Ivan Saltzman owning 52.7 percent of Dis-Chem’s issued share capital.

Dis-Chem sold 32,000,000 at a price of 35 rand ($2.57) per share through an accelerated bookbuild which was offered only to qualifying investors and not the public.

The bookbuild price is at a 9.3 percent discount to the pre-launch closing price of 38.58 rand per share on Monday.

The company, which listed in November last year, has grown from a start-up in 1978 to a major health products retailer which runs about 100 stores.

($1 = 13.6347 rand)

(Reporting by Tanisha Heiberg; Editing by Vyas Mohan)

2017-12-12 09:19:32

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