Karooooo Ltd. (KARO) Launches $75M Secondary Share Offering
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Karooooo Ltd. Announces Launch of Secondary Public Offering of Ordinary Shares
July 24, 2024 7:35 AM EDTSINGAPORE--(BUSINESS WIRE)-- Karooooo Ltd. (Karooooo) today announced the commencement of an underwritten secondary public offering (the Offering) of a number of its ordinary shares held by Isaias (Zak) Jose Calisto, Karooooos chief executive officer (the Selling Shareholder), that generates $75.0 million in gross proceeds. In addition, the underwriters of the Offering will have a 30-day option to purchase up to a number of additional ordinary shares that generates $11.25 million in gross proceeds from the Selling Shareholder. The price per ordinary share will be determined following the bookbuilding process. Karooooos ordinary shares are listed on the Nasdaq Capital Market under the... More
