HomeChoice Set To List On JSE Next Month

November 13, 2014 Mzwandile Jacks Business, Finance/Money, Strategies & Solutions

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VENTURES AFRICA – South Africa’s HomeChoice Holdings is poised to be quoted on the Johannesburg Stock Exchange (JSE) – Africa’s biggest bourse – in December this year, it emerged late on Tuesday.
The retailer of household goods is likely to start trading on the JSE on December 4 this year, Reuters reported. JSE is among the world’s top 10 bourses.
HomeChoice is not intending to raise money at its JSE debut, according to Reuters. The company’s CEO, Shirley Maltz, said that access to public markets will provide an additional source of funding.
HomeChoice uses call centres, catalogues, and
the internet to reach South Africa’s expanding middle class. It also operates in Lesotho, Botswana, Swaziland and Namibia.
As at June 2014, its clients in the above-mentioned countries represented 11.8 percent of the group’s R861 million ($76.36 million) first-half retail sales.
HomeChoice was founded in 1985 with a vision to provide convenient, safe and exciting home shopping. It is now the leading direct marketing homeware retailer in Southern Africa offering an outstanding shopping experience.
In the past couple of years the JSE has seen an increase in the number of companies listing on the JSE. This came after a lull in the number of companies listing on the JSE during the 2008/9 global economic meltdown.