The South African multimillionaire Saltzman family, founders of Dis-Chem Pharmacies, have seen their joint stake in the company increase by $20 million since the start of the year. This brings the market value of their stake to a staggering $588 million.
The family’s 35.12% stake in Dis-Chem, equivalent to 302 million shares, has risen by R327.7 million ($20 million) over the past 14 days.
Dis-Chem, founded by Lynette and Ivan Saltzman over 40 years ago, has expanded from a single pharmacy to a nationwide chain with hundreds of outlets across South Africa.
The company has diversified its operations to include family clinics, wound-care centers, and a range of self-medication and wellness products.
Dis-Chem’s shares have risen 3.71% year-to-date, climbing from about R35 ($2.13) to R36.30, pushing the company’s market capitalization to around R31.2 billion ($1.9 billion).
The company’s solid half-year performance, with revenue from continuing operations climbing 11.1% to R16.8 billion ($1.02 billion), has contributed to the share price increase.
