The Saltzman family, the creators of South Africa’s biggest retail pharmacy chain Dis-Chem Pharmacies, have seen a significant boost in the value of their investment due to recent buying interest on the Johannesburg Stock Exchange.
Over the last 18 days, the market value of the Saltzman family’s Dis-Chem stake has increased by R402.2 million ($22.6 million). This comes after a prior gain from May 2 to 22, when the value of their investment increased by R249.55 million ($13.68 million), taking it from R8.27 billion ($453.13 million) to R8.51 billion ($466.81 million).
Lynette and Ivan Saltzman founded Dis-Chem Pharmacies almost four decades ago, and it has since grown to be one of South Africa’s leading retail healthcare organizations.
The organization offers a variety of services, including dispensaries, family clinics, wound care clinics, and self-medication centers.
Since August 6, Dis-Chem’s shares on the JSE have increased by 4.5 percent, from R35.1 ($1.98) to R36.52 ($2.07), bringing the company’s market capitalization above $1.7 billion.
The Saltzman family, which owns a 29.3 percent share in the Gauteng-based healthcare firm, has benefited immensely from the surge. Since August 6, the shareholding has increased by R402.2 million ($22.63 million), rising from R8.77 billion ($493.3 million) to R9.17 billion ($515.9 million).
This considerable increase in the market value of the Saltzman family’s interest in Dis-Chem reinforces their status as one of South Africa’s wealthiest families, demonstrating their long-standing influence on the country’s economic landscape.
For stockholders, the year-to-date return on Dis-Chem shares is 22.26 percent. A $100,000 investment in Dis-Chem shares at the beginning of 2024 is now worth roughly $122,260, representing a $22,260 gain.
