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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...

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