Dis-Chem Not the beginning of the end, but perhaps the end of the beginning
Here’s the one we’ve all been waiting for: Dis-Chem, are reportedly been prepped for a listing on the JSE, which has encouraged major investor RECM and Calibre (RAC), to disclose the value of its holding in Dis-Chem at the AGM. R127million, apparently, for a 2.5% stake, which, RAC avers, is about half the value of similar businesses listed on the JSE. Not a bad little earner for RAC, which bought its share of Dis-Chem in 2013 for a paltry R30.5million through its arms-length investment vehicle Fledge. Perhaps they thought they were buying some other kinds of drugs, who knows. Among its other investments are mining, diamonds and poultry, in which embattled sector it owns a chunk of Country Bird acquisition target Sovereign.
Comment: Still, a listing eh? Stay tuned.