Pepkor Holdings Limited shares become available for trade on A2X Markets today with a market cap of R68.98 billion.
Pepkor has the largest retail store footprint in Southern Africa with 5 900 stores operating across nine African countries and in Brazil. Pepkor Holdings is home to many of the most trusted brands on the continent including Ackermans, PEP, Russells and HiFi Corp as well as Avenida in Brazil.
The company joins other prominent retailers with a secondary listing on A2X including, Dis-Chem, Mr Price, Clicks, Truworths, Pick n Pay, Shoprite and Woolworths. Pepkor Holdings is listed on the Johannesburg Stock Exchange (JSE) and its listing and issued share capital will be unaffected by its secondary listing on A2X.
A2X CEO Kevin Brady said, “We are delighted to be welcoming Pepkor Holdings onto our platform and we look forward to demonstrating the benefits that the listing will bring to both Pepkor and its investors.”
The Pepkor listing will bring the number of instruments listed on A2X to 181, with a combined market capitalisation of around R9.1 trillion.
It joins other well-known companies including Absa, AngloGold, Aspen, Discovery, Glencore, Impala, Investec, Naspers, Nedbank, Prosus, Sasol, Standard Bank and Vodacom that are also listed on the exchange.
A2X is a licensed stock exchange that provides a secondary listing venue for companies. It is regulated by the Financial Sector Conduct Authority and the Prudential Authority (SARB) in terms of the Financial Markets Act.
Also read: JSE-Listed Retailer Pepkor Generates Robust Cash Flow and Expands Rapidly in Brazil
JSE-listed Pepkor reports a 7.7% increase in annual revenue, reaching R87.4 billion for the full year ending September 30, 2023.
The group’s operations demonstrated exceptional working capital management, resulting in a 15.9% rise to R13 billion in cash generation compared to the previous year.
Pepkor, the owner of household brands such as Pep, Ackermans, Tekkie Town, Buco, and Incredible, maintained a store base of 5,917 at year-end. despite ongoing national challenges affecting the operating environment and consumer livelihoods, the group successfully secured market share gains in key product categories.
Key market share gains in highly competitive retail segment
While the competitive environment in the discount and value retail segment remains intense with high levels of promotional activity during the year, market share gains were achieved in key product categories. These gains were spurred by stronger trading in the second half of the year and a 53rd trading week in the group’s South Africa-based clothing, footwear and homeware (CFH) retail brands
