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
Cartrack shareholders give pre-Nasdaq listing arrangement a thumbs up
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Cartrack shareholders give pre-Nasdaq listing arrangement a thumbs up
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Cartrack shareholders give pre-Nasdaq listing arrangement a thumbs up
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Cartrack, a global provider of vehicle telematics and recovery solutions, this week published a business update with solid performance for quarter three, despite the challenges of Covid-19.
The company’s founder and group chief executive officer, is Zak Calisto, who still retains more than a two thirds shareholding in a company with a market cap that exceeds R15 billion.
Cartrack has seen its share price double over the past year, and a lot more than that over a five year period, in which the company has increasingly targeted markets abroad. It employs over 2,500 people across 24 countries spanning five continents.