Last week, the Johannesburg Stock Exchange (JSE) announced and celebrated the listing of Motus Holdings, a leading automotive group in Southern Africa, on the Main Board. Motus joins three companies listed in the Specialty Retailers sector, a sector with a total market cap of over R28 billion. The Motus listing brings the total number of listings thus far in 2018 to 12.
Motus, a diversified (non-manufacturing) business in the automotive sector with unrivalled scale and scope in South Africa, and a selected international presence, is fully integrated across the automotive value chain via 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 the long-term value creation and growth for its shareholders,” says Donna Nemer, Director: Capital Markets at JSE.
In 2017 after a strategic portfolio optimisation, consolidation and realignment of Imperial Holdings’ businesses, Motus was created as a separate holding company for all the automotive businesses within the group. The unbundling will enable Motus to operate in a more focused and efficient manner, allowing it to achieve its strategic goals, be separately accountable to debt and equity providers and unlock value for shareholders in the long-term.
Commenting on the listing, Acting 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 which underpins our ability to create sustainable value through the cycle.”