african-markets.com
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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