The JSE, Africa’s largest stock exchange, today listed CA Sales Holdings Limited to its main board, offering South African investors exposure to 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, later expanding its wings to Botswana, Swaziland, Namibia, Lesotho, Zimbabwe, Mozambique and Zambia. The company provides a wide range of services to blue chip manufacturers in the FMCG industry, including sales, merchandising, warehousing, distribution, accounts receivable administration, marketing and promotions, point-of-sale warehousing and training.
Valdene Reddy, director of capital markets at JSE, said CA Sales’ listing is a positive reflection of JSE’s efforts to attract new listings. “We are committed to developing the attractiveness of our listed markets. In doing so, we have embarked on a journey to improve the ease and attractiveness of listings through various regulatory and product proposals with the aim of attracting issuers and investors to our exchange. We are delighted to welcome CA Sales to the JSE and look forward to the company’s reciprocal growth and contribution across the continent,” said Reddy.
In a pre-listing statement issued on June 6, 2022, CA Sales informed its shareholders that it was transferring its dual primary listing from the Cape Town Stock Exchange to the JSE. The company expects its market capitalization to be approximately R2.2 billion at the date of listing. The company, listed as a diversified retailer on the JSE, introduced 461.4 million shares on the main board, where it trades under the symbol CAA.
Commenting on the company’s listing, Duncan Lewis, CEO of CA Sales Holdings Limited, said: “As a collective of well-established FMCG service companies operating across Southern Africa, specializing in marketing services to owners of most-loved brands in the world, we look forward to our dual listing, on the JSE and the Botswana Stock Exchange (BSE), raising the profile of our group among the retail and institutional investor community based in South Africa.”
“We are well positioned to take advantage of opportunities in the various jurisdictions in which we operate. Our management teams are exceptional and experienced in overcoming obstacles that may be encountered. If it was easy, everyone would do it! I am excited about the next 5 years,” concluded Johan Holtzhausen, President of CA Sales Holdings Limited.
The CA Sales listing brings the number of companies listed on the JSE to 313 with an aggregate market capitalization of over R19.3 trillion.