Cartrack raises R510 million through share placement - CNBC Africa

Cartrack raises R510 million through share placement

IPO

by Trust Matsilele 0

Cartrack has successfully raised an aggregate amount of 510 million rand through the placement of 60 million ordinary shares.

The group says each share was being offered at 8.50 rand per [DATA CTK:Cartrack Holdings Limited] Share representing 20 per cent of Cartrack issued share capital on Listing.

(WATCH VIDEO: Cartrack holdings to list on JSE)

Cartrack Shares will be listed on the main board of the JSE with effect from the commencement of trade on Friday, 19 December 2014 under the “Support Services” sector and will trade under the abbreviated name.

As a global leader and one of the most respected companies in vehicle tracking and recovery systems.

Cartrack is the leading fleet management & stolen vehicle tracking company in Africa, Europe and South East Asia.

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