JOHANNESBURG (Reuters) – South Africa’s HomeChoice Holdings plans to list on the Johannesburg stock market next month, the retailer of household goods said on Tuesday.
HomeChoice, which uses call centres, catalogs, and the internet to reach South Africa’s expanding middle class, is expected to start trading on December 4.
The company does not plan to raise funds at the listing but Chief Executive Officer Shirley Maltz said access to public markets would provide an additional source of funding.
HomeChoice also operates in Botswana, Lesotho, Namibia and Swaziland, and more recently expanded into Zambia. At June 2014, customers in these countries accounted for 11.8 percent of the group’s 861 million rand ($76.36 million) first-half retail sales.
(1 US dollar = 11.2755 South African rand)
(Reporting by Tiisetso Motsoeneng; Editing by David Dolan)
