South Africa's Dis-Chem to raise up $359 million in JSE listing

South African drug retailer Dis-Chem plans to raise up to $359 million with a stock market listing, it said on Friday, to reduce debt and allow founders to recoup some of their investment. Founded by chief executive Ivan Saltzman and his wife Lynette, Dis-Chem will tap an uncertain equity market as it looks to take on larger rival Clicks Group and retailers Shoprite and Pick n Pay, which also have pharmaceutical retail operations. Dis-Chem said it would sell 238.4 million shares, equating to a 2