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Crisis sell-off: Market is sending WeBuyCars owner Transaction Capital a message | Business

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One-time investor darling Transaction Capital has suffered another shock slump amid increasing concern about its massive debt burden and strategic misjudgements. | News24_Business

Transaction Capital says the minibus taxi industry is not recovering as initially anticipated and has thus booked R1.9bn in provisions for potential bad debt in SA Taxi.One-time investor darling Transaction Capital has suffered another shock slump amid increasing concern about its massive debt burden and strategic misjudgements.

The company lost more than a third of its value on the JSE on Wednesday. In mid-March, the company crashed 40% in a single day after warning the market that a sharp fall was coming in its earnings for the six months to end March.Read this for free Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

 

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हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

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इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

WeBuyCars owner Transaction Capital plunges 17% after R1.9bn loss | BusinessShares of SA's biggest taxi financier and Transaction Capital plunged another 17% on Wednesday, after it delivered a profit fall that was worse than guided. | News24_Business
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Transaction Capital’s profit disappears as restructuring of taxi business beginsThe taxi financier and second-hand car dealer hopes its SA Taxi unit will be profitable again in 2024
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Transaction Capital takes 48% profit hit after downsizing taxi businessTransaction Capital opted to skip dividends after booking a R2.1 billion headline loss in its SA Taxi business for the six months to 31 March 2023. Moneyweb BusinessNews
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MARKET WRAP: JSE falters amid global market unease and debt ceiling worriesSA markets take a hit as the US debt ceiling stalemate sparks investor caution, with the rand plunging to a two-month low against the dollar
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