Holdsport First Sports Shop On JSE
HOLDSPORT would become the first dedicated sporting goods retailer on the JSE on July 18, the company said yesterday.
Holdsport, owners of Sportsmans Warehouse and Outdoor Warehouse, will also be the first listing in the retail sector on the local bourse since 2004.
A total of 42,857,143 ordinary shares would be listed, of which up to 30-million (70%) would be sold in the book-build process, the company said. The offer will be open only to selected investors.
"During the book-build process, the ordinary shares will be offered at a price range of R31- R39. However, thereafter the share price may be outside of this range," Holdsport said.
CEO Kevin Hodgson said internet retailing would be a key focus . "We are well positioned to leverage our competitive strengths and business platform to facilitate growth and profitability by growing the store base, increasing product volumes, improving product mix, increasing efficiencies and seeking value- enhancing acquisitions."
Holdsport has maintained strong margins, reporting compounded revenue growth of 12,6%, and core ebitda and operating improvement of 13,7% and 13,5% over five years, it said. It aims to open three stores a year within three to five years.
Absa Securities’ Chris Gilmour said there was plenty of space for Holdsport’s offering in a sports- mad country such as SA.