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CEO Ivan Saltzman, executive Stan Goetsch and director Niall Hegarty sold 32-million shares.
CEO Ivan Saltzman, executive Stan Goetsch and director Niall Hegarty sold 32-million shares.

Dis-Chem shares fall 9% as founders sell shares


By Robert Laing - Dec 12th 2017, 13:33

Dis-Chem Pharmacies’ share price fell 9% to R35.10 on Tuesday morning, just above the R35 per share book build price achieved by founders selling some of their shares.

Founding shareholders CEO Ivan Saltzman, category executive Stan Goetsch and director Niall Hegarty raised a combined R1.12bn by selling 32-million shares via an accelerated book build announced on Monday.

Saltzman reduced his holding in Dis-Chem to 52.8% by selling 3-million shares, Goetsch cut his to 6% by selling 20-million shares and Hegarty reduced his to 3.2% by selling 8-million shares.

Dis-Chem listed in November 2016 by placing 236.8-million shares at R18.50 each.

The share more than doubled to a peak of R39.95 on November 28.
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Read more about: shares | retailer | retail | dischem

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