Cartrack Holdings Limited, the fleet management, stolen vehicle recovery and insurance telematics group has been trading on the Main Board Johannesburg Stock Exchange since 19 December 2014.

The listing follows a successful capital raising of R510 million through a private placement of shares with local and international institutional and retail investors, giving Cartrack a market value of R2.55 billion at listing.

“I am delighted that Cartrack has today successfully been listed on the JSE, entering the next phase in the company’s development. The listing will enhance the Cartrack brand as we embark on growing the company further, together with our new investors,” Cartrack’s global chief executive officer and founding shareholder Zak Calisto said from the JSE trading floor in Johannesburg today.

Calisto, who founded the company in 2001, will remain invested in the group as its majority shareholder and global CEO. He is supported by an experienced and respected management team including the group chief financial officer and deputy global CEO John Edmeston and the global marketing and sales executive, Juan Marais.