WeBuyCars (WBC) will list on the JSE tomorrow (April 11), and it and parent Transaction Capital had successfully raised R902.7 million through the listing process so far, at a price of R18.75 per WBC share.
This was through the issue of 40 million WBC shares for R750m immediately prior to the listing, and the disposal by Transaction Capital of 8.15 million WBC shares for about R152.7m, the companies announced yesterday.
As a result, the final number of ordinary shares in issue as at the listing date of WBC would be 417.18 million shares, at a price of about R18.75 per WBC share.
This implied a market capitalisation of R7.82 billion for WBC on listing on April 11, subject to demand and market conditions on the listing date, the companies said in a statement yesterday.
BUSINESS REPORT