Co-founders sell 'niche' Transaction Capital stock

Johannesburg_PA_575_375
By Aidan Gregory
19 Feb 2020

The three founders of Transaction Capital, the South African financial services firm, have sold down R1.62bn ($108m) of stock via an accelerated bookbuild.

Goldman Sachs and Standard Bank were bookrunners on the placing, which was launched after the market close on Tuesday evening. It initially consisted of 65m shares, before being increased to 69m shares, an 11.2% stake, due to the strength of the demand. 

Following a wallcrossing exercise, the deal ...

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