Shoprite added to JSE Top-40 Index, Barloworld dropped

South African retailer Shoprite will be added to the JSE Top-40 Index of blue-chips, replacing industrial group Barloworld.

Barloworld will be dropped from the Top-40 Index on September 22, and be replaced by Shoprite, South Africa’s largest grocery chain by market capitalisation, the JSE said in a statement on Thursday.

Shoprite, which operates in 17 countries across Africa, the Indian Ocean Islands and Southern Asia, expects to start operating in the Democratic Republic of Congo in the next 9-15 months.

The company reported earlier this month a 54,1% rise in diluted full-year headline EPS and total turnover rose 22,3% to R47,652-billion.—Reuters