Choppies to raise P473m in JSE listing


Local retail giant, Choppies Enterprises seeks to raise up to P473 million (R574 million) on its inward secondary listing on the Johannesburg Stock Exchange (JSE).

The retailer, which operates 125 stores in Botswana, South Africa and Zimbabwe, yesterday announced that it would list on Africa’s largest stock market on May 27, 2015. The company said it would use the funds to pay down debt as well as finance the company’s expansion into the region.

At the end of last year, Choppies had total borrowings of P466 million, as shown by its interim financial results for the six months ended December 31, 2014.

Editor's Comment
Molepolole unrest: Urgent attention on missing person cases

From Jakoba's mysterious disappearance on November 9 to the grim discovery of his remains at Mosinki Lands, a gap in the response mechanisms of the police and village leadership has been laid bare. The community's anger is evident, seen in the attack on Bakang Masole, the man found driving Jakoba's taxi and the main suspect, and the subsequent riot. Residents express discontent, citing a troubling trend of missing persons cases often...

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