Today South African home-shopping retailer, HomeChoice International P.L.C. (JSE: HIL), listed in the General Retailers sector on the JSE’s Main Board. HomeChoice is the 18th company to list on the JSE this year, in a sector that has a market capitalisation of R151 billion.
HomeChoice International P.L.C is a leading home shopping retailer that sells homeware merchandise and financial services products to the urban middle-income market in southern Africa and operates in South Africa, Botswana, Lesotho, Namibia, Swaziland and Zambia. HomeChoice is an omni-channel home shopping retailer which offers products through mail order (catalogue), electronic channels (Internet and mobile phone) and telemarketing (call centres).
Gregoir Lartigue, the CEO of HomeChoice International, said core to the group’s long-term strategy is to expand into new markets to sustain growth. “Expansion into Africa and other territories will be accelerated through listing, for example, certain African jurisdictions will require local equity participation unless the group is listed. The listing will provide access to capital markets for potential funding for future expansion and unlocking value for existing shareholders. We believe the listing will also improve incentives for directors, managers and employees by making their shares more tradeable, while also assisting the group in attracting and retaining talented and scarce skills.”
Donna Oosthuyse: Director Capital Markets at the JSE says the exchange is pleased to announce HomeChoice International P.L.C’s listing. “Online retailing has seen major growth in South Africa in recent years and with HomeChoice’s expansion into four markets on the continent, the JSE is excited to provide a platform which can assist in generating further growth in this evolving new sector.”