WeBuyCars, a pre-owned motor vehicle marketplace, has been listed on the Main Board of the Johannesburg Stock Exchange (JSE) under the share code “WBC.”
Details
Established in 2001, WeBuyCars provides a quick, easy, and trusted solution to selling pre-owned vehicles – remedying a once difficult and lengthy process.
By The Numbers
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.
Between The Lines
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.
What They’re Saying
“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.
“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.
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