Overview
- The placement equals about 8.5% of Pick n Pay’s issued ordinary share capital and was executed via an accelerated bookbuild.
- Following the sale, the family’s aggregate voting interest falls from 49.0% to 36.8%, ending majority control while they remain an anchor shareholder.
- The deal raised about R1.6 billion at R25.50 per share, a reported 6.4% discount to the prior close.
- The Ackermans retain 135,354,720 ordinary shares, while voting rights attached to 105.18 million linked B shares will lapse and be cancelled on settlement.
- Settlement on the JSE is expected on or around 21 November 2025, with a 90‑day lock‑up in place and Rand Merchant Bank and Morgan Stanley acting as joint global coordinators.