Africa-Press – Eswatini. Logico Unlimited’s parent company CA&S was yesterday listed on Africa’s largest stock exchange, the Johannesburg Stock Exchange (JSE).
In a press statement released by the JSE yesterday, CA Sales Holdings Limited was listed as 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, Eswatini, Namibia, Lesotho, Zimbabwe, Mozambique and Zambia,” the statement from JSE read.
The company according to the statement 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 was 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,” Reddy said.
In a pre-listing statement released on 6 June, it is said CA Sales informed its shareholders that it was moving its dual primary listing from Cape Town Stock Exchange to the JSE. The company it was reported 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 E461.4 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, they look forward to dual listing on the JSE and Botswana Stock Exchange (BSE), raising the profile of their Group with South African based retail and institutional investor community.
In the statement Johan Holtzhausen, Chairman at CA Sales Holdings, said they were well positioned to take advantage of the opportunities in the various jurisdictions they 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 five years,” Holtzhausen concluded.
It was mentioned that the listing of CA Sales brings the number of listed companies on the JSE to 313, with an overall market capitalisation of over R19.30 trillion.
Logico Unlimited extended its congratulations on their parent company on its successful listing on the JSE. “CA&S Group is the parent company of a collection of FMCG businesses that operate across the Southern African region, including Logico and Expo Africa in Eswatini,” a brief statement from Logico Unlimited read.
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