Pick n Pay's Boxer store chain sets IPO base size near top of previous estimate, 6-8bn rand.
South Africa's Pick n Pay supermarket chain has revealed that the base size of its Boxer store chain's initial public offering (IPO) will be near the top of its previous estimate, between 6 billion and 8 billion rand ($339 million - $452 million). Facing competition from rivals like Shoprite, the company plans to include an overallotment option not exceeding 0.5 billion rand, funded through newly-issued shares.
October 28, 2024
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