WeBuyCars IPO
WeBuyCars lists on the JSE at a Market Cap of ZAR 7.8 Billion
WeBuyCars officially listed on the JSE, earning it the accolade as the first listing for the 2024 calendar year. Founded in 2001 WeBuyCars went on to become the jewel of, now troubled, Transaction Capital's crown.
Between 2013 and 2023 WeBuyCars grew Revenue from ZAR 110 Million to +ZAR 20 Billion, and a Net Profit CAGR of +60% between FY'11 and FY'22. 40 million shares were sold for ZAR 750 Million, translating into a ZAR 7.8 Billion Market Cap. Shares opened at ZAR 20 per share, above the initial public offering price of ZAR 18.75 per share.
The key question for investors considering an allocation to WeBuyCars:
Can the management team cost-effectively increase current market share of between 10% to 12%, with sales of ~13 500 vehicles per month, and continue to deliver strong cash-flows.
The current Cash Conversion Ratio relative to Cash Flow from Operations is +90%
See below for a recent company profile presentation by WeBuyCars' Executive Management Team.