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Africa’s newest billionaire Zak Calisto sells Karooooo shares worth $75 million
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South African billionaire Zak Calisto has launched, Friday, June 13, 2025, a secondary public offer of $75 million on the shares of Karooooo, its company listed in Nasdaq. A decision to improve the liquidity of the Karooooo share, with a promise made to the founder to diversify part of its assets, without giving up its control over the company. Zak Calisto is increasingly known on the African economic scene. Becoming a billionaire two weeks ago,…
Africa’s newest billionaire Zak Calisto sells Karooooo shares worth $75 million
Key PointsZak Calisto offloads $75 million in shares to enhance Karooooo’s stock liquidity and widen its investor base, while retaining majority control of the company.Calisto’s stake falls from 64.81% to 58%, or 57.27% if underwriters fully exercise their option, but voting control remains secure through governance agreement.Karooooo’s fiscal 2025 revenue grew 8.6% to $249.87 million, driven by Cartrack’s expanding subscription base across 25 c…
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