Diversified retailer CA Sales blows kudu horn symbolizing listing on JSE main board

SOUTH AFRICA – Fast-moving consumer goods services group CA Sales Holdings, trading as CA&S Group, has been listed on the main board of the JSE, Africa’s largest stock exchange.

The CA&S Group is the holding entity of a collective of fast-moving consumer goods service businesses that operate across the Southern African region.

It offers a wide range of services to international and blue-chip manufacturers in the FMCG industry including selling, merchandising, warehousing, distribution, debtors’ administration, marketing and promotions, point of sale warehousing and training.

The portfolio of blue-chip clients covers all categories of consumer products, including food, consumer durables, snacks and confectionary, paper products, beverages, pet care, alcoholic beverages, frozen foods and tobacco products and accessories, among others.

ADVERT

Its listing on the JSE comes five years after featuring on the main board of Botswana Stock Exchange (BSE) in 2017 and follows the moving of its dual primary listing from Cape Town Stock Exchange.

“The dual listing for CA&S . . . will certainly raise the profile of our group within the South African-based retail and institutional investors and may increase the liquidity of our shares,” says CA&S Group CEO Duncan Lewis.

Classified as a diversified retailer on the JSE, CA&S Group estimated its market capitalisation (cap) to be about R2.2-billion (US$133m) at the time of its listing, floating 461.4-million shares on the JSE’s main board, where it is trading under the code CAA.

CA&S Group chairperson Johan Holtzhausen says the group is well positioned to take advantage of the opportunities in the various jurisdictions it operates.

ADVERT

“Our management teams are exceptional and experienced to overcome the obstacles that may be encountered.

“We are a strong mid-market company, with a current market cap of over R2-billion and with bold, yet achievable ambitions. Our revenue in 2021 was over R8-billion . . . with over 80% of our revenue contributions being located outside of South Africa,” adds Lewis.

The listing of CA Sales brings the number of listed companies on the JSE to 313 with an overall market capitalisation of over R19.30trillion (US$1.7 trillion).

ADVERT

Valdene Reddy, Director of Capital Markets at the JSE, said the listing of CA Sales is 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,” said Reddy.

CA&S Group was first incorporated in South Africa in 2011, expanding later to Botswana, Swaziland, Namibia, Lesotho, Zimbabwe, Mozambique, Zambia, Kenya and Mauritius.

Liked this article? Subscribe to Food Business Africa News, our regular email newsletters with the latest news insights from Africa and the World’s food and agro industry. SUBSCRIBE HERE

More News Articles

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.