Boxer Superstores, a subsidiary of Pick n Pay, made a noteworthy debut on the Johannesburg Stock Exchange, with its shares climbing 16% to R8.99. The company's IPO raised R4.4 billion by offering 500 million new shares at R8.80 each, valuing Boxer at R17.4 billion. The funds raised will help reduce debt and fuel expansion, signifying a major milestone for the retailer known for serving lower-income consumers.
Stagwell's recent financial report reveals an 8% net revenue surge in Q3 of 2024, amounting to $580 million. This growth, driven by organic gains, highlights the company's strategic prowess amidst complex market dynamics. The report underscores Stagwell's operational efficiency and its adeptness at capitalizing on emerging market opportunities, marking its resilience in turbulent economic times.