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Taxi moguls sell R1.6bn in sought-after shares

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Transaction Capital founders sell R1.6bn in shares

Transaction Capital, which finances the taxi industry, said on Wednesday that three of its founders had sold shares worth R1.6bn in a move that will diversify its shareholder base and improve liquidity.

“Both new and existing institutional investors participated in the bookbuild, further diversifying the company’s investor base and increasing foreign ownership. The bookbuild has increased the company’s free float, which is expected to improve share liquidity,” Transaction Capital said via Sens on Wednesday.

Its most significant businesses include SA Taxi Finance, which finances, sells and repairs minibus taxis, and Transaction Capital Risk Services, a debt collection service.

 

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