After Cartrack (as it was then known) announced its plan to move its listing offshore, investors drove the price up to nearly R90 by late January. Sanity eventually prevailed and the price consolidated in the mid-R50s, where it belonged.

The offshore listing has been completed and the company now trades on the Nasdaq as Karooooo (Karo). The move was driven by a desire to improve liquidity, achieve a rerated multiple and attract more international investors...

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