Today, WeBuyCars, a prominent and recognised brand within the pre-owned motor vehicle market, established over 23 years ago, has listed on the Main Board of the Johannesburg Stock Exchange (JSE) under the share code "WBC."
Established in 2001, WeBuyCars provides a quick, easy and trusted solution to selling pre-owned vehicles – remedying a once difficult and lengthy process. As of today, WeBuyCars has 2,800 employees across South Africa, buys and sells vehicles from 15 supermarkets, has 74 buying pods and over 340 buyers nationwide.
“It has been an amazing journey that culminated in a listing on the JSE. We are excited about the road ahead as the listing opens up many opportunities such as enhancing our brand, creating liquidity for shareholders and attracting staff” said Faan van der Walt, CEO of WeBuyCars.
The listing arrives as part of WeBuyCars’ unbundling process from its previous holding company, Transaction Capital, which announced earlier this year that the separate listing was due to WeBuyCars’ unique market positioning, echoing a growing trend in the JSE's Equity Capital Markets. The popularity of unbundling operations is a testament to its effectiveness in enhancing growth opportunities, valuation realisation, and capital allocation optimisation.
“We are thrilled to welcome WeBuyCars to the JSE and excited to see a new listing for the year. The company’s decision to unbundle and list on our exchange demonstrates the strength of the SA capital markets and the JSE's role in enabling firms to progress their expansion pursuits, facilitating direct access to a well-established equity market” said Valdene Reddy, Director of Capital Markets at the JSE.
The JSE remains committed to showcasing South Africa as a capital markets destination of choice and to create an enabling environment for listed and prospective entities. The bourse continues to promote its regulatory reforms in order to attract more dual-listings and stimulate IPOs.
WeBuyCars marks the second listing on the JSE this year, bringing the total number of companies listed to 283 and a market cap of R18.4 trillion.
We Buy Cars Main Board Listing Images
ENDS
ABOUT THE JSE
The Johannesburg Stock Exchange (JSE) has a well-established history of operating as a marketplace for trading financial products. It is a pioneering, globally connected exchange group that enables inclusive economic growth through trusted, world-class, socially responsible products, and services for the investor of the future. It offers secure and efficient primary and secondary capital markets across a diverse range of securities, spanning equities, derivatives, and debt markets. It prides itself on being the market of choice for local and international investors looking to gain exposure to leading capital markets on the African continent.
The JSE is currently ranked in the Top 20 largest stock exchanges in the world by market capitalisation, and is the largest stock exchange in Africa, having been in operation for over 136 years. As a leading global exchange, the JSE co-creates, unlocks value and makes real connections happen. www.jse.co.za
The JSE takes your privacy seriously in accordance with the POPI Act. We endeavour to only send you relevant information that we think will be of interest to you and the media title you work at. No action is required if you are happy to continue receiving JSE news and information. Should you change your mind at any time in the future, please do let us know. If you do not wish to receive JSE news and information, please respond to this email and we will remove you from future distributions.
|
JSE general enquiries: Email: [email protected] Tel: 011 520 7000 |
JSE media contact: Paballo Makhetha Communication Specialist Tel: 011 520 7331 | Mobile: 066 261 7405 Email: [email protected] |