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CA Sales lists on the JSE

patriot by patriot
June 29, 2022
in Business
237 15
0
CA Sales lists on the JSE

JSE Group CEO Leila Fourie, left and CA Sales Holdings chief executive Duncan Lewis at the firm’ JSE listing yesterday. Picture, Nokuthula Mbatha, ANA.

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The JSE, Africa’s largest stock exchange, has listed CA Sales Holdings Limited on its main board providing South African investors with exposure in the fast-moving consumer goods (FMCG) company with a footprint in several Southern African countries.

CA Sales was first incorporated in South Africa in 2011 and then spread its wings to Botswana, Swaziland, Namibia, Lesotho, Zimbabwe, Mozambique, and Zambia. The company offers a wide range of services to blue-chip manufacturers in the FMCG industry including selling, merchandising, warehousing, distribution, debtors’ administration, marketing and promotions, point of sale warehousing and training.

Valdene Reddy, Director of Capital Markets at the JSE, said the listing of CA Sales is a positive reflection on JSE’s efforts to attract new listings. “We are committed to growing the attractiveness of our listed markets. In so doing, we have embarked on a journey to improve the ease and appeal of listings through various regulatory and product proposals in efforts to attract issuers and investors to our exchange. We are pleased to welcome CA Sales to the JSE and look forward to the reciprocal growth of the company and its contribution across the continent”, said Reddy.

In a pre-listing statement released on 6 June 2022, CA Sales informed its shareholders that it was moving its dual primary listing from Cape Town Stock Exchange to the JSE. The company anticipates that its market capitalisation will be about R2.2 billion at the date of the listing. The company, classified as a diversified retailer on the JSE, has floated 461.4 million shares on the Main Board, where it is trading under the code CAA.

Commenting on the company’s listing, Duncan Lewis, CEO, CA Sales Holdings Limited, said: “As a collective of well-established FMCG service businesses operating across Southern Africa, specialising in route to market services to owners of the world’s most loved brands, we look forward to our dual listing, on the JSE and Botswana Stock Exchange (BSE), raising the profile of our Group with South African based retail and institutional investor community”.

“We are well positioned to take advantages of the opportunities in the various jurisdictions we operate in. Our management teams are exceptional and experienced to overcome the obstacles that may be encountered. If it was easy, everyone would do it! I am excited about the next 5 years,” concluded Johan Holtzhausen, Chairman at CA Sales Holdings Limited.

The listing of CA Sales brings the number of listed companies on the JSE to 313 with an overall market capitalisation of over R19.30trillion.

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  • MASISI TO GRACE UB ALUMNI RÉUNION ON FRIDAYMarch 29, 2023
    The University of Botswana Foundation (UBF) will on 31st March 2023, host its Inaugural Alumni Reunion which will be held at the University of Botswana Campus Indoor Sports Centre under the theme “UB Alumni: Our Gateway to Academic  Excellence”. […]
  • Masisi’s 5 years Presidency scorecardMarch 29, 2023
    April 1 2023 marks President Mokgweetsi Masisi’s five years in office. He will seek a second term in next year’s general elections. Although Masisi has delivered on some of the promises he made in 2019 others remain a pie […]
  • Mine Workers Union maintains stance against LucaraMarch 29, 2023
    Botswana Mine Workers Union (BMWU) has previously enjoyed cordial relations with Lucara Botswana. It was until the Union’s intervention on reports of maladministration that the relationship between the parties took a turn for the worst. It would have been […]
  • BDP admits job creation failuresMarch 29, 2023
    KABO RAMASIA editors@thepatriot.co.bw Pressure is mounting on the ruling Botswana Democratic Party (BDP) due to unprecedented rise in unemployment levels, with the latest figures showing that 33.5 percent of young people are roaming the streets. According to a Quarterly […]
  • Lucara accused of firing 50 security guards for whistle blowingMarch 27, 2023
    Botswana Mine Workers Union (BMWU) has resolved to defend its fifty (50) members under the security department of Lucara Botswana against a systematic targeting by its unethical managing director, who has orchestrated a retrenchment exercise to purge employees who […]
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