WeBuyCars considers separate JSE listing

The founders of vehicle trader WeBuyCars are considering an unbundling from parent company Transaction Capital and are seeking a separate listing on the JSE.

Transaction Capital made this announcement when releasing its annual results on Tuesday when it reported that earnings from its WeBuyCars business fell 14% to R658 million in the period to end-September. However, the vehicle trader had a better second half and consistently grew market share, helping to offset a R3.7 billion loss from SA's biggest taxi financier SA Taxi.

"We haven’t made any decisions, but we are having these discussions because we think there is a very strong business case for this thing to be listed on its own and to take that management team and let it take this business to another level," Jonathan Jawno, a co-founder of Transaction Capital, who officially takes over as CEO at the end of December, told News24.