WeBuyCars makes impressive debut on JSE

The Money Show interviews Faan van der Walt, founder and executive director of WeBuyCars. 

Vehicle reseller WeBuyCars has made its debut on the Johannesburg Stock Exchange (11 April).

This completes an unbundling process that owners Transaction Capital hope will unlock value for their shareholders.

Shares of WeBuyCars opened at R20/share, above the initial public offering price of R18.75.

Ahead of Thursday's listing, WeBuyCars and Transaction Capital raised R902.7 million in capital they said in a statement.

"The final number of ordinary shares in issue... will be 417 181 120 WBC Shares, at a price of approximately R18.75 per share, which implies a total market capitalisation of R7.82 billion for WeBuyCars on listing..."

WeBuyCars

The Money Show interviews Faan van der Walt, founder and executive director of WeBuyCars. 

Van der Walt says it all still feels unreal, as they only had the plan to list quite recently.

"It's been a growth journey where we focused on our own business, not looking too far ahead."

"We are now a big company... selling in excess of 14 000 cars a month, so I guess the time was right for us to be listed and we're very thankful that we had this opportunity."

Faan van der Walt, Founder - WeBuyCars

For more detail, listen to the interview audio at the top of the article