South African Football Association president Danny Jordaan has been arrested and charged with fraud after allegedly spending R1.3 million of the association's money for his personal benefit.
https://t.co/PzBEorzWY8
@gugumfuphi ๐ What's your view point on subscription based business model in b2b operations? , similar to what Netflix and MultiChoice does, recurring revenue ๐ค
BOXER'S R8-BILLION JSE LISTING
Pick 'n Pay will be listing its low-cost Boxer business on the JSE to raise as much as R8-billion, which would make it Africaโs biggest offering this year.
๐ฅBoxer currently has 489 stores, with plans to expand significantly with a two-year compounded annual growth of 14%, aiming for 65 net new stores in the next financial year.
๐ฅDespite its strong presence in KwaZulu-Natal and the Eastern Cape, Boxer is broadening its footprint across all nine South African provinces and Eswatini, focusing particularly on growth in Gauteng.
๐ฅBoxer will be listed on the JSE's main board by the end of 2024, with an additional secondary listing on A2X, showcasing its ambition to be among South Africa's top retailers.
๐ฅThe IPO (Initial Public Offering) includes an overallotment option not exceeding R500-million, allowing for potential additional shares if market demand exceeds expectations.
Institutional investors are expected to hold between 30% to 49.9% of Boxer post-listing, with Pick n Pay retaining significant control, suggesting strong market reception and investor confidence.