Dis-Chem Pharmacies plans to start trading in Johannesburg as South Africa’s second-biggest pharmacy chain by number of stores looks to double its outlets in the next five to eight years.

Goldman Sachs, Investec and Standard Bank have been appointed as join coordinators and book-runners, the company said in a statement on Monday.

The offering will comprise private placements to selected institutional investors or people buying shares for R1m or more, it said.

Dis-Chem, which has tripled its store base to 103 in South Africa and Namibia since 2008, had revenue of R15.5bn and earnings before interest, tax, depreciation and amortisation of R1.1bn in the year ended February 28, with Ebitda climbing at a three-year compound annual growth rate of 22%, it said.

South African retailers are facing headwinds including weak domestic consumer confidence, rising interest rates and a depreciated rand in an economy that’s growing at the slowest pace since a 2009 recession.

Existing shareholders comprise the Saltzman Family Trust, holding 66.9% of the company’s shares through Ivlyn, with other key management holding 23.4% and the remaining 9.7% held by a financial investor whose identity wasn’t disclosed.