Transaction Capital raises R1.17bn in oversubscribed bookbuild

SA’s biggest taxi financier, Transaction Capital, said its has successfully raised R1.17bn in an oversubscribed bookbuild, intending to use some of the proceeds to take a controlling stake in online vehicle trading platform WeBuyCars.

The bookbuild was “multiple times oversubscribed” with the shares placed at R35.50, a 4.4% discount to the group’s share price at the close of trade on July 8. The about 33-million shares issued represent 4.9% of the group’s shares before placement...