Pick n Pay‘s Boxer officially marked its entry onto the Johannesburg Stock Exchange (JSE) on Thursday.
As the first soft discount retailer to list in South Africa, Boxer’s debut has been one of the most anticipated IPOs in nearly a decade. The listing delivers a significant boost to parent company Pick n Pay, providing it with a multi-billion rand injection to fuel further growth and strategic ambitions.
Acquired by Pick n Pay in 2002 with just 35 stores and a turnover of R800 million, the retailer has since expanded to an impressive 500 stores nationwide, boasting an annual turnover of R40 billion. This extraordinary growth underscores Boxer’s success in the soft discount retail space and its strategic importance within the Pick n Pay Group.
The listing also highlights a broader resurgence of Africa’s biggest stock market. After years of stagnation, the JSE is seeing renewed optimism, with Boxer’s debut setting the tone for more IPOs expected in 2025.
Boxer’s listing positions the retailer for continued growth, allowing it to leverage capital from the stock market to expand its footprint and further its mission to deliver value to South African consumers.
Share your thoughts on this article and join the conversation on Twitter or Facebook.
