Behind Massmart’s JSE exit after 22 years - Experts say the company’s stock had long lost its value, rendering its delisting immaterial
Twenty-two years on the Johannesburg Stock Exchange is a good run but that is also where the road ends for Massmart as the group will be delisting on 22 November.
Massmart’s delisting follows a R6.4 billion offer from Walmart, its parent company, for the 47% stake it does not already own. Founded in 1990, Massmart has been a prominent feature in the South African retail space and so a world where it is fully under Walmart is unfathomable. But, away from the public eye, experts and Massmart themselves said delisting from the JSE would allow the group to recalibrate and put into effect its turnaround strategy.Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”
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