WeBuyCars is about to kick off a new phase, hitting the Johannesburg Stock Exchange (JSE) on April 11. This has many wondering, is this a chance you wouldn't want to miss?
What's the story?
The story is on Transaction Capital getting its star performer, WeBuyCars, ready for a separate listing on the Johannesburg Stock Exchange (JSE). This is a major step, especially considering the tough times faced by another part of their business, SA Taxi, which has been struggling financially due to the declining minibus taxi market.
On the brighter side, WeBuyCars has been doing great. It quickly adapted to changing market demands by focusing on buying and selling more affordable, second-hand cars.
More on WeBuyCars
Before stepping into the spotlight, WeBuyCars planned to boost its bank balance by R760 million through new shares, plus some extra cash from big investors.
Starting in 2001 with just a couple of employees, WeBuyCars has grown into a giant, selling more than 14,000 cars a month. They're aiming to hit the market valued between R8.7 billion and R10 billion, with their latest profits hitting R778 million.
According to Moneyweb, analyst Jimmy Moyaha shared thoughts on what's going on. He said that the listing of WeBuyCars set for next Thursday is a move that could positively impact the market and benefit the team at Transaction Capital - potentially sorting out some debt issues and setting the stage for some interesting future plans.
With the listing date fast approaching, investors are watching closely. The takeaway? Every share on the market has its own story. For those thinking about investing, it's crucial to dig into these stories. By doing your homework, you can see if WeBuyCars' journey and where it's headed resonate with you. This isn't just about numbers; it's about understanding the business, its challenges, and its opportunities.
Quick reminder
The final day to execute trades eligible for WBC shares is April 10, 2024. Shareholders will receive 0.32678 WBC Shares for each Transaction Capital Share they hold. Additional details can be found via this link.
Quick tip
If you want to explore and learn more about the top bought stocks on our plaftorm, search our hashtag #EasyEquitiesTop5Buys.
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