Transaction Capital aims to raise up to R1.25bn from WeBuyCars
Parent needs funds to repay debt and remove the liability if its ailing SA Taxi division defaults
13 February 2024 - 17:28
UPDATED 16 February 2024 - 08:03
Transaction Capital wants to raise R900m-R1.25bn by issuing and selling shares in WeBuyCars before its planned unbundling and separate listing of the profitable second-hand car dealer.
By selling new shares to asset manager Coronation and issuing new shares for the new investors to buy into WeBuyCars, it will reduce its 74.9% holding in the used car dealer to 57%-67%...
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