Chemist Warehouse linked to big money

The discount pharmacy chain is reportedly set to float but investors may have to wait, with rumours the date has been pushed to late 2020

Pharmacy giant Chemist Warehouse has reportedly pushed out the timetable for its initial public offering, according to the Australian Financial Review.

The AFR’s Street Talk column reports that investors have been told the speculated February 2020 date for the Chemist Warehouse float has now been pushed back by a further nine months.

Rothschild Australia, the Australian arm of the global Rothschild & Co group, which offers services in global advisory, wealth and asset management, and merchant banking, has been linked to the privately listed pharmacy group.

Sources say Rothschild’s bankers have been spotted at recent meetings and are understood to have gained a role as financial/strategic advisor to the shareholder group.

Chemist Warehouse is the biggest pharmacy owner in the country and when it comes to market it would likely be one of the country’s biggest ever floats, says Street Talk.

It is rumoured to be valued at $5 billion.

“Fund managers and analysts all over town would welcome it heading to the ASX-boards,” they said.

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  1. Paul Sapardanis

    What are the actually selling ? Individual stores have to be owned by pharmacists last time I looked

    • Jim Tsaoucis

      ….A.I.R?? Artificially Inspired Retoric

      • Paul Sapardanis

        It seems to me that they are set up in such a way where all profit is made by the head office and this is where all the value is. Is any rebate filtered down to any of the individual stores or is it all held by the mother ship?

        • PharmOwner

          The suckers with their name on the door hold around 20% while East Yarra Friendly Society (ie Gances and Verrochis) hold the majority ownership of 80%. The minor partners are effectively just well-paid employees of the Gances and Verrochis. All you have to do is check the rich list to see who derives the profits from CWH/My Chemist.

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