Johannesburg - Mauritius-listed nutraceutical company Go Life International wants to list in the JSE’s AltX after a recent deal.
In a statement issued on Monday, the company says it is seeking an inward listing on the JSE’s junior bourse after earlier this year buying the 78 percent it didn’t own in Go Life Health Products (Go LifeSA), which holds Gotha Health Products.
The Mauritius-listed company says it has successfully presented to the AltX Advisory Committee and has submitted the draft prelisting statement to the JSE. Go Life is to list during November, subject to JSE approval.
“Go Life International was established to leverage the strength of existing South African nutraceutical companies, Go Life SA and to drive the presence of the South African products and brands across the global nutraceutical market.”
Gotha Health Products, a subsidiary of Go Life International, has been active in promoting health support products since 2005.
Go Life SA reported revenues of more than R10 million for the year to February and this is targeted to double by February 2017 and exceed R50 million by February 2018.
Go Life SA currently has more than 10 percent market share in the Eastern Cape where it originated and is establishing a larger distribution footprint that covers the rest of South Africa and is also rolling out Gotha Health Hubs.
The first Gotha Health Hub was opened in Port Elizabeth in late 2015, with hubs in Midrand, East London and Parow planned for opening in early 2017. Gotha Health Hubs serve as warehouses and sales hubs in selected geographical areas. The hubs supply and market products to chain stores, pharmacies and natural health stores. In addition, management has negotiated deals with a number of national retail stores and pharmacies.
Go Life’s products are currently sold through Alpha Pharm, a large retail pharmaceutical chain and the brand services outlets and stockists in every major town and city throughout the country. New contracts have been signed or are under negotiation with a number of major retailers, with products expected on the shelves during 2017.
IOL