A global surge in initial public offerings, especially in the technology sector, has so far eluded sub-Saharan Africa.
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Karooooo, the Nasdaq-listed mobility software company that owns South Africa’s Cartrack Holdings, has acquired digital logistics specialist Picup in a R70-million deal.
Cartrack, whose shares more than doubled in value in 2020, plans to delist from the JSE and file for an initial public offering on the Nasdaq, the company announced on Thursday.