Transaction Capital raises R1.17bn in oversubscribed bookbuild
The taxi financier wants to use part of the proceeds to up its stake in WeBuyCars to 74.9% from 49.9%
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...