The country’s biggest retail chainstore, Choppies is set to list on the Johannesburg Stock Exchange (JSE).
The Botswana Stock Exchange (BSE) listed company expects their second listing to expose them to the many investors in Africa's most successful bourse. Choppies Chief Executive Officer (CEO) Ramachandran Ottapathu said the listing that is expected to happen early next year will make it easier for them to access capital.
“The listing will raise our profile and make the company more visible to the regional research and analyst community,” he said, adding that the store will also achieve the much-needed regional recognition. Choppies is currently expanding into South Africa and Zimbabwe and the listing will enable the company to raise capital for the expansion in the markets as well as future developments.
"The company’s profile will be increased amongst international investors and increase demand for the group shares.” Choppies market value stands at P 4.7 billion on the BSE. The company first listed on the BSE in January 2012. It constitutes an approximate market capitalisation of P2.4 billion as of December 20 2012 in the BSE Domestic Company Index. It has P1.2 billion shares listed at the offer price of P1. 15 thebe per share, with 25 percent going to the public.