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Johannesburg - Transaction Capital Limited‚ a
non-deposit-taking financial services group‚ listed on the main board of the
Johannesburg Stock Exchange (JSE) on Thursday. This follows a private placement
of shares with South African and international institutional investors in a
bookbuilding process.
Demand from a broad base of high quality investors resulted
in the offer being oversubscribed at R8.00 per share. The full fifty million
shares available from the primary placing were sold and the minimum secondary
placement of 25 million shares was increased to 39 million shares.
The company debuted on the JSE at R8.48 per share – 48 cents
higher than its offer price.
Commenting on the listing‚ Mark Lamberti‚ CEO of Transaction
Capital‚ said: “We are pleased with the conviction shown by new investors in
Transaction Capital. Markets worldwide are currently fragile and recent IPO
activity has been characterised by cancellations‚ postponements and
underperformance. With this in mind we were reluctant to price the offer
aggressively.
Investor response suggests confidence in Transaction Capital
as a route to high growth underserved sectors in specialised lending‚ credit
services and payment services. This confidence will be vindicated by the
performance of the group in the years ahead.”
According to Patrycja Kula‚ Business Development Manager at
the JSE: “Transaction Capital placed 89 million shares valued at R712m. The
amount of institutional capital raised in the current economic climate
testifies to the fact that the company‚ the JSE and the South African
investment community provide a quality offering.”
Transaction Capital is listing in the “Financial Services Sector” under the abbreviated name “TRANSCAP” with symbol “TCP” and ISIN ZAE000167391. The company recently announced its interim results on 21 May 2012.
