(Ecofin Agency) - The South African automobile distributor Motus Holdings (MTH) has just been listed on the Johannesburg Stock Exchange (JSE), becoming the fourth actor of the automobile distribution sector to join the local stock market.
"This is an exciting milestone in the history of our 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", said Motus’ acting managing director Ockert Janse van Rensburg.
"We welcome Motus Holdings' listing and look forward to the company's continued success and the long-term value creation and growth for its shareholders", Donna Nemer, director of capital markets at JSE, said.
Motus Holdings mainly operates in the automobile distribution, renting, spare parts sales and financial services in the auto sector. Its listing increases the number of IPO on the JSE this year to twelve.