WeBuyCars sees earnings boost ahead of JSE listing

Transaction Capital is listing WeBuyCars on the JSE to unlock value for its shareholders after SA Taxi’s poor performance crashed the group’s share price.

Ahead of its listing on Thursday, 11 April 2024, Transaction Capital published a business trading update for five months ending 29 February 2024 for WeBuyCars. In February alone, WeBuyCars purchased 14,354 vehicles and sold 13,132 cars, with the sales per-day volumes in line with January and continuing into March.Core earnings grew by 25% in the first five months of the financial year to R333 million, with revenue also growing by 16% to R9,491 million.

In a separate SENS announcement, Transaction Capital also announced the opening of an offer to qualifying investors to subscribe for and/or purchase WeBuyCars shares as part of the pre-listing capital raise.HEINEKEN Director Millicent Maroga unpacks the company’s sustainability projectsEnergy

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