[South Africa] Motus Holdings lists on the Johannesburg Stock Exchange
The Johannesburg Stock Exchange (JSE) has announced and celebrated the listing of Motus Holdings, a leading automotive group in Southern Africa, on the Main Board. Motus joins three companies in the Specialty Retailers sector, a sector with a total market cap or R28 billion. The Motus listing brings the total number of listings far in 2018 to 12.
Motus, a diversified (non-manufacturing) business in the automotive sector with unrivaled scale and scope in South Africa, and a selected international presence, is fully integrated across the automotive value chain through four operating divisions: Import and Distribution; Retail and Rental; Motor-Related Financial Services; and Aftermarket Parts.
"As a world class exchange, the JSE is committed to creating better markets for all We welcome Motus Holdings' listing and look forward to the company's continued success and long-term value creation and growth for its shareholders," says Donna Nemer, Director: Capital Markets at JSE.
In 2017 after a strategic portfolio optimization, consolidation and realignment of Imperial Holdings' businesses, Motus was created as a separate holding company for all automotive companies within the group.
The unbundling will enable Motus to operate in a more focused and efficient manner, allowing it to achieve its strategic goals, to be accountable to debt and equity providers and to unlock value for shareholders in the long term.
Commenting on the listing, CEO of Motus, Ockert Janse van Rensburg says:
"This is a significant milestone in the history of the company." The unbundling and separate listing of Motus enables us to operate in a more focused and efficient manner, while at the same time providing shareholders with an opportunity to participate directly in the group's success. As a result of our differentiated value proposition investing in Motus means participating in the entire automotive value chain that enables us to create sustainable value through the cycle. "