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This week MoneywebNOW looked at office rental space, commodity stocks, MTN and more. 10:04
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Tuesday we celebrated the show’s first birthday and having launched during hard lockdown it has been some year. To celebrate we got five of our favourite commentators and asked them a simple question: What was their top story from the past year? We got great and varied answers that really highlighted what a diverse and wild year it has been.
One of the biggest pandemic trends is working from home (WFH), resulting in huge pressure placed on listed property, especially the office rental space. Long-term nobody is exactly sure how permanent WFH will be, but I got Keillen Ndlovu, head of listed property at Stanlib, on the show to chat about this sector. It represents some 21% of total Reit exposure locally and we spoke about lease durations, vacancies and even the sale of office buildings as companies try shed exposure.
Simon s weekly wrap: Changing the lens on local investment opportunities
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The shares of Karooooo, the new holding company for vehicle recovery and fleet management group Cartrack, rose as it began trading on the JSE earlier this week. Nearly all Cartrack shareholders have opted to remain invested in the new holding company. Which first listed on the Nasdaq on April. The complex deal was done to open up Karooooo to larger pools of capital on offer in the US market. South African entrepreneur Zak Calisto, the founder of Cartrack and Karooooo, has thousands of employees across the rapidly expanding global organisation he founded from scratch in South Africa. The tech business, which has its roots in tracking stolen cars, recently listed on the Nasdaq to appeal to the global investment community. Calisto shares insights into how to build and scale a business as well as what makes him tick. He also elaborates on how the company is set to keep growing. You’ll hear he has some remarkable similarities with Amazon founder Jeff Bezos. – Jackie Cameron
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Karooooo â formerly Cartrack â resurfaces on the JSE as a secondary listing
âWe needed a broader spectrum of shareholders and funds, which the Nasdaq allows usâ â CEO Zak Calisto. 09:28
SIMON BROWN: I’m chatting with Zak Calisto. He is the CEO of Karooooo. If you’re wondering who Karooooo is, they were Cartrack, they are listed on the Nasdaq and now they’re listed back on the JSE, starting life on Wednesday as a secondary listing on the JSE. Zak, I appreciate your time today. First question, why that move from a JSE primary listing to a Nasdaq primary, then a secondary on the JSE?
Chris Logan joined the BizNews Power Hour to unpack Cartrack’s listing on the Nasdaq. Logan has been invested in the company for quite a long time, making him well-placed to explain the listing. The company provides tracking devices for vehicles, for fleet tracking or recovering stolen vehicles. “In many ways, it’s been a misunderstood share on the JSE. Ownership by South Africans has declined consistently. Foreign investors who appreciated the growth potential have bought up most of the free float. It’s eventually culminated in Cartrack moving its primary listing to Nasdaq”. Logan explains the complicated transition over to Nasdaq. – Jarryd Neves
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