Choppies seeks to raise P350m from investors

In a statement, sponsoring brokers Motswedi Securities says Choppies will sell 260 million shares through a private placing and 43 million shares through a public offer at a price of P1.15 per share between now and January 11, 2012 before listing on the 26th instant.

With 49 stores in Botswana and plans to open seven more by June next year, Choppies is the largest supermarket chain in the country, raking in over P103 million in after tax profits this year.