Choppies Resumes Trade on the Johannesburg Stock Exchange

Choppies Resumes Trade on the Johannesburg Stock Exchange

Botswanan retailer Choppies Enterprises has resumed trading on the Johannesburg Stock Exchange (JSE) after a two-year hiatus.

The retailer was suspended from the local bourse in September 2018 after it delayed releasing its financial results.

After the extensive engagement, the JSE had agreed to lift its suspension with effect Friday, which follows its reinstatement on the BSE in July. 

That reinstatement followed the publication of delayed publication of audited Group results for the years ended 30 June 2018 and 30 June 2019, as well as the interim results ended 31 December 2019.

On 25 September 2020, the Group published the audited results for the year ended 30 June 2020 (“FY20 Results”).

“Continuous monitoring of group profit margins by management has also not identified any unexplainable discrepancies for the periods affected by the inventory qualification, providing further comfort on the inventory balance reported,” the statement read.