Karooooo set for inward listing on JSE
Karooooo to list on bourse as Cartrack’s new holding company after its debut on Nasdaq
The JSE is set to welcome a new inward listing this week with Karooooo, the new holding company under which previously listed Cartrack will fall, set to make its debut on the mainboard on April 21.
In February shareholders in Cartrack, which provides fleet-management and vehicle recovery services in more than 20 countries, approved a plan to roll the company into its founder’s investment vehicle, Karooooo, which would then list itself on the Nasdaq with an inward listing on the JSE. The complex deal was done to open up Karooooo, the investment vehicle of Cartrack founder Zak Calisto, to larger pools of capital...